Senate
File
426
-
Introduced
SENATE
FILE
426
BY
COMMITTEE
ON
COMMERCE
(SUCCESSOR
TO
SSB
1225)
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
2164SV
(5)
85
rn/sc
S.F.
426
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
fee
7
shall
be
paid
into
the
Iowa
real
estate
education
fund
created
8
in
section
543B.54
shall
be
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
2164SV
(5)
85
rn/sc
1/
3
S.F.
426
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
9
of
the
state
but
shall
be
appropriated
to
the
professional
10
licensing
and
regulation
bureau
of
the
banking
division
of
the
11
department
of
commerce.
Funds
appropriated
pursuant
to
this
12
section
shall
be
used
for
the
public
purpose
of
providing
a
13
grant
to
a
nonprofit
foundation
affiliated
with
a
statewide
14
association
of
real
estate
professionals
to
provide
real
15
estate
education
programs,
scholarship
assistance,
housing
16
assistance
programs,
or
to
otherwise
further
the
mission
of
the
17
foundation.
18
EXPLANATION
19
This
bill
relates
to
real
estate
broker
and
real
estate
20
salesperson
licensing
fees
and
allocations
from
those
fees.
21
The
bill
reduces
an
allocation
of
$50
that
is
currently
22
mandated
from
each
real
estate
broker
and
real
estate
23
salesperson
licensing
fee
for
deposit
into
the
Iowa
real
estate
24
education
fund
created
in
Code
section
543B.54
to
provide
25
grants
to
educational
institutions
to
provide
real
estate
26
education
programs
and
to
hire
and
compensate
a
real
estate
27
education
director
and
regulatory
compliance
personnel.
The
28
bill
reduces
the
allocation
to
$25,
and
directs
the
allocation
29
to
be
appropriated
to
the
professional
licensing
and
regulation
30
bureau
of
the
banking
division
of
the
department
of
commerce
31
for
the
purpose
of
hiring
and
compensating
a
real
estate
32
education
director
and
regulatory
compliance
personnel.
33
The
bill
also
repeals
Code
section
543B.54,
modifies
related
34
provisions,
and
provides
that
any
funds
remaining
in
the
Iowa
35
-2-
LSB
2164SV
(5)
85
rn/sc
2/
3
S.F.
426
real
estate
education
fund
on
June
30,
2013,
shall
not
revert
1
to
the
general
fund
of
the
state
but
shall
be
appropriated
2
to
the
professional
licensing
and
regulation
bureau
for
the
3
public
purpose
of
providing
a
grant
to
a
nonprofit
foundation
4
affiliated
with
a
statewide
association
of
real
estate
5
professionals
for
purposes
specified
in
the
bill.
6
-3-
LSB
2164SV
(5)
85
rn/sc
3/
3