Bill Text: IA HSB595 | 2023-2024 | 90th General Assembly | Introduced
Bill Title: A bill for an act relating to real estate brokers, and the rental or leasing of real estate, and including effective date and applicability provisions.(See HF 2326.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2024-02-05 - Committee report approving bill, renumbered as HF 2326. [HSB595 Detail]
Download: Iowa-2023-HSB595-Introduced.html
House
Study
Bill
595
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
STATE
GOVERNMENT
BILL
BY
CHAIRPERSON
BLOOMINGDALE)
A
BILL
FOR
An
Act
relating
to
real
estate
brokers,
and
the
rental
or
1
leasing
of
real
estate,
and
including
effective
date
and
2
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
Section
543B.3,
unnumbered
paragraph
1,
Code
1
2024,
is
amended
to
read
as
follows:
2
As
used
in
this
chapter
,
“real
estate
broker”
means
a
person
3
acting
for
another
for
a
fee,
commission,
or
other
compensation
4
or
promise,
whether
it
be
for
all
or
part
of
a
person’s
time,
5
and
who
engages
directly
or
indirectly
in
any
of
the
following
6
acts:
7
Sec.
2.
NEW
SECTION
.
543B.7A
Exclusions
——
rental
or
8
leasing
on
behalf
of
another.
9
This
chapter
shall
not
apply
to
any
of
the
following:
10
1.
A
person,
limited
liability
company,
or
limited
11
partnership
who
engages
in
any
act
under
section
543B.3
that
12
is
related
to
the
rental
or
leasing
of
real
estate
on
behalf
13
of
a
partnership,
limited
partnership,
corporation,
or
limited
14
liability
company,
and
the
person,
limited
liability
company,
15
or
limited
partnership
maintains
an
ownership
interest
in
the
16
partnership,
limited
partnership,
corporation,
or
limited
17
liability
company.
18
2.
A
person
who
engages
in
any
act
under
section
543B.3
that
19
is
related
to
the
rental
or
leasing
of
real
estate
on
behalf
20
of
a
partnership,
limited
partnership,
corporation,
or
limited
21
liability
company,
and
the
person
is
an
owner
of
a
partnership,
22
limited
partnership,
corporation,
or
limited
liability
company,
23
which
is
a
parent
or
subsidiary
of,
or
under
common
control
24
with
the
leasing
partnership,
limited
partnership,
corporation,
25
or
limited
liability
company.
26
3.
A
person
who
is
a
nonlicensed
employee
of
a
real
estate
27
broker
and
who
engages
in
advertising,
showing,
listing,
28
collection
of
rents
and
deposits,
procuring
of
prospects,
29
completing
form
agreements,
and
executing
form
agreements
as
it
30
relates
to
the
rental,
leasing,
or
property
management
of
real
31
estate.
32
Sec.
3.
EFFECTIVE
DATE.
This
Act,
being
deemed
of
immediate
33
importance,
takes
effect
upon
enactment.
34
Sec.
4.
RETROACTIVE
APPLICABILITY.
This
Act
applies
to
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proceedings
before
the
real
estate
commission
created
in
1
section
543B.8,
other
administrative
proceedings
before
a
2
state
agency
or
department,
and
judicial
proceedings
before
3
a
court,
that
are
not
finally
adjudicated
or
are
otherwise
4
pending
on
the
effective
date
of
this
Act,
except
to
the
extent
5
such
application
would
affect
a
person’s
contractual
or
vested
6
rights.
7
EXPLANATION
8
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
9
the
explanation’s
substance
by
the
members
of
the
general
assembly.
10
This
bill
relates
to
real
estate
brokers,
and
the
rental
or
11
leasing
of
real
estate.
12
Under
current
law,
a
real
estate
broker
is
defined
as
a
13
person
acting
for
another
for
a
fee,
commission,
or
other
14
compensation
or
promise,
who
engages
directly
or
indirectly
in
15
the
acts
enumerated
in
the
bill.
Under
the
bill,
a
real
estate
16
broker
is
defined
as
a
person
acting
for
another
for
a
fee,
17
commission,
or
other
compensation
or
promise,
who
engages
in
18
the
acts
enumerated
in
the
bill.
19
The
bill
creates
an
exception
to
Code
chapter
543B
for
a
20
person,
limited
liability
company,
or
limited
partnership
who
21
engages
in
any
act
that
is
related
to
the
rental
or
leasing
of
22
real
estate
on
behalf
of
a
partnership,
limited
partnership,
23
corporation,
or
limited
liability
company,
and
the
person,
24
limited
liability
company,
or
limited
partnership
maintains
an
25
ownership
interest
in
the
partnership,
limited
partnership,
26
corporation,
or
limited
liability
company.
The
bill
creates
27
an
exception
to
Code
chapter
543B
for
a
person
who
engages
28
in
an
act
related
to
the
rental
or
leasing
of
real
estate
on
29
behalf
of
a
partnership,
limited
partnership,
corporation,
30
or
limited
liability
company,
and
the
person
is
an
owner
of
31
a
partnership,
limited
partnership,
corporation,
or
limited
32
liability
company,
which
is
a
parent
or
subsidiary
of,
or
33
under
common
control
with
the
leasing
partnership,
limited
34
partnership,
corporation,
or
limited
liability
company.
The
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bill
also
creates
an
exception
to
the
Code
chapter
for
a
person
1
who
is
a
nonlicensed
employee
of
a
real
estate
broker
and
2
who
engages
in
advertising,
showing,
listing,
collecting
of
3
rents
and
deposits,
procuring
of
prospects,
completing
form
4
agreements,
and
executing
form
agreements
as
it
relates
to
the
5
rental,
leasing,
or
property
management
of
real
estate.
6
The
bill
takes
effect
upon
enactment.
7
The
bill
applies
to
all
proceedings
that
are
not
finally
8
adjudicated
or
are
otherwise
pending
on
the
effective
date
of
9
the
bill,
except
to
the
extent
such
application
would
affect
a
10
person’s
contractual
or
vested
rights.
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