House File 624 - Introduced HOUSE FILE 624 BY COMMITTEE ON APPROPRIATIONS (SUCCESSOR TO HF 502) (SUCCESSOR TO HSB 164) A BILL FOR An Act relating to real estate broker and real estate 1 salesperson licensing fees and allocations from those fees, 2 and making an appropriation. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 2164HZ (3) 85 rn/sc

H.F. 624 Section 1. Section 543B.14, Code 2013, is amended to read 1 as follows: 2 543B.14 Fees and expenses —— funds. 3 All fees and charges collected by the real estate commission 4 under this chapter shall be paid into the general fund of the 5 state, except that fifty twenty-five dollars from each real 6 estate salesperson’s license fee and each broker’s license 7 shall be paid into the Iowa real estate education fund created 8 in section 543B.54 fee is appropriated to the professional 9 licensing and regulation bureau of the banking division of 10 the department of commerce for the purpose of hiring and 11 compensating a real estate education director and regulatory 12 compliance personnel . All expenses incurred by the commission 13 under this chapter , including compensation of staff assigned to 14 the commission, shall be paid from funds appropriated for those 15 purposes , except for expenses incurred and compensation paid 16 for the real estate education director, which shall be paid out 17 of the real estate education fund . 18 Sec. 2. Section 546.10, subsection 3, paragraph b, Code 19 2013, is amended to read as follows: 20 b. Notwithstanding subsection 5 , eighty-five percent of the 21 funds received annually resulting from an increase in licensing 22 fees implemented on or after April 1, 2002, by a licensing 23 board or commission listed in subsection 1 , is appropriated 24 to the professional licensing and regulation bureau to be 25 allocated to the board or commission for the fiscal year 26 beginning July 1, 2002, and succeeding fiscal years, for 27 purposes related to the duties of the board or commission, 28 including but not limited to additional full-time equivalent 29 positions. In addition, notwithstanding subsection 5, 30 twenty-five dollars from each real estate salesperson’s license 31 fee and each broker’s license fee received pursuant to section 32 543B.14 is appropriated to the professional licensing and 33 regulation bureau for the purpose of hiring and compensating 34 a real estate education director and regulatory compliance 35 -1- LSB 2164HZ (3) 85 rn/sc 1/ 3

H.F. 624 personnel. The director of the department of administrative 1 services shall draw warrants upon the treasurer of state from 2 the funds appropriated as provided in this section and shall 3 make the funds available to the professional licensing and 4 regulation bureau on a monthly basis during each fiscal year. 5 Sec. 3. REPEAL. Section 543B.54, Code 2013, is repealed. 6 Sec. 4. REAL ESTATE EDUCATION FUND —— REMAINING FUNDS 7 TRANSFER. Any funds remaining in the real estate education 8 fund on June 30, 2013, shall not revert to the general fund of 9 the state but are appropriated to the professional licensing 10 and regulation bureau of the banking division of the department 11 of commerce. Funds appropriated pursuant to this section 12 shall be used for the public purpose of providing a grant to a 13 nonprofit foundation affiliated with a statewide association 14 of real estate professionals to provide real estate education 15 programs, scholarship assistance, housing assistance programs, 16 or to otherwise further the mission of the foundation. 17 EXPLANATION 18 This bill relates to real estate broker and real estate 19 salesperson licensing fees and allocations from those fees. 20 The bill reduces an allocation of $50 that is currently 21 mandated from each real estate broker and real estate 22 salesperson licensing fee for deposit into the Iowa real estate 23 education fund created in Code section 543B.54 to provide 24 grants to educational institutions to provide real estate 25 education programs and to hire and compensate a real estate 26 education director and regulatory compliance personnel. The 27 bill reduces the allocation to $25, and appropriates the 28 allocation to the professional licensing and regulation bureau 29 of the banking division of the department of commerce for the 30 purpose of hiring and compensating a real estate education 31 director and regulatory compliance personnel. 32 The bill also repeals Code section 543B.54, modifies related 33 provisions, and provides that any funds remaining in the Iowa 34 real estate education fund on June 30, 2013, shall not revert 35 -2- LSB 2164HZ (3) 85 rn/sc 2/ 3

H.F. 624 to the general fund of the state but are instead appropriated 1 to the professional licensing and regulation bureau for the 2 public purpose of providing a grant to a nonprofit foundation 3 affiliated with a statewide association of real estate 4 professionals for purposes specified in the bill. 5 -3- LSB 2164HZ (3) 85 rn/sc 3/ 3