House Study Bill 164 - Introduced HOUSE FILE _____ BY (PROPOSED COMMITTEE ON COMMERCE BILL BY CHAIRPERSON COWNIE) 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 2164HC (4) 85 rn/sc

H.F. _____ 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 5 the state, except that fifty twenty-five dollars from each 6 real estate salesperson’s license and each broker’s license 7 shall be paid into the Iowa real estate education fund created 8 in section 543B.54 shall be deposited in the department 9 of commerce revolving fund created in section 546.12 and 10 appropriated annually to the professional licensing and 11 regulation bureau of the banking division of the department 12 of commerce for the purpose of hiring and compensating a real 13 estate education director and regulatory compliance personnel . 14 All expenses incurred by the commission under this chapter , 15 including compensation of staff assigned to the commission, 16 shall be paid from funds appropriated for those purposes , 17 except for expenses incurred and compensation paid for the real 18 estate education director, which shall be paid out of the real 19 estate education fund . 20 Sec. 2. REPEAL. Section 543B.54, Code 2013, is repealed. 21 Sec. 3. REAL ESTATE EDUCATION FUND —— REMAINING FUNDS 22 TRANSFER. Any funds remaining in the real estate education 23 fund on June 30, 2013, shall not revert to the general fund 24 of the state but shall be transferred to the department of 25 commerce revolving fund established in section 546.12, and 26 such funds are appropriated to the professional licensing and 27 regulation bureau of the banking division of the department of 28 commerce. Funds appropriated pursuant to this section shall be 29 used for the public purpose of providing a grant to a nonprofit 30 foundation affiliated with a statewide association of real 31 estate professionals to provide real estate education programs, 32 scholarship assistance, housing assistance programs, or to 33 otherwise further the mission of the foundation. 34 EXPLANATION 35 -1- LSB 2164HC (4) 85 rn/sc 1/ 2

H.F. _____ This bill relates to real estate broker and real estate 1 salesperson licensing fees and allocations from those fees. 2 The bill reduces an allocation of $50 that is currently 3 mandated from each real estate broker and real estate 4 salesperson licensing fee for deposit into the Iowa real estate 5 education fund created in Code section 543B.54 to provide 6 grants to educational institutions to provide real estate 7 education programs and to hire and compensate a real estate 8 education director and regulatory compliance personnel. The 9 bill reduces the allocation to $25, and directs the allocation 10 to be deposited into the department of commerce revolving fund 11 created in Code section 546.12 and appropriated annually to the 12 professional licensing and regulation bureau of the banking 13 division of the department of commerce for the purpose of 14 hiring and compensating a real estate education director and 15 regulatory compliance personnel. 16 The bill also repeals Code section 543B.54, modifies related 17 provisions, and provides that any funds remaining in the Iowa 18 real estate education fund on June 30, 2013, shall not revert 19 to the general fund of the state but shall be deposited in 20 the department of commerce revolving fund and appropriated 21 to the professional licensing and regulation bureau for the 22 public purpose of providing a grant to a nonprofit foundation 23 affiliated with a statewide association of real estate 24 professionals for purposes specified in the bill. 25 -2- LSB 2164HC (4) 85 rn/sc 2/ 2