Bill Text: IA SF438 | 2013-2014 | 85th General Assembly | Enrolled
Bill Title: A bill for an act relating to real estate broker and real estate salesperson licensing fees and allocations from those fees, and making an appropriation. (Formerly SSB 1225 and SF 426.) Effective 7-1-13.
Sponsorship: Committee Bill
Status: (Passed) 2013-12-31 - END OF 2013 ACTIONS [SF438 Detail]
Download: Iowa-2013-SF438-Enrolled.html
Senate
File
438
AN
ACT
RELATING
TO
REAL
ESTATE
BROKER
AND
REAL
ESTATE
SALESPERSON
LICENSING
FEES
AND
ALLOCATIONS
FROM
THOSE
FEES,
AND
MAKING
AN
APPROPRIATION.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
543B.14,
Code
2013,
is
amended
to
read
as
follows:
543B.14
Fees
and
expenses
——
funds.
All
fees
and
charges
collected
by
the
real
estate
commission
under
this
chapter
shall
be
paid
into
the
general
fund
of
the
state,
except
that
fifty
twenty-five
dollars
from
each
real
estate
salesperson’s
license
fee
and
each
broker’s
license
Senate
File
438,
p.
2
shall
be
paid
into
the
Iowa
real
estate
education
fund
created
in
section
543B.54
fee
is
appropriated
to
the
professional
licensing
and
regulation
bureau
of
the
banking
division
of
the
department
of
commerce
for
the
purpose
of
hiring
and
compensating
a
real
estate
education
director
and
regulatory
compliance
personnel
.
All
expenses
incurred
by
the
commission
under
this
chapter
,
including
compensation
of
staff
assigned
to
the
commission,
shall
be
paid
from
funds
appropriated
for
those
purposes
,
except
for
expenses
incurred
and
compensation
paid
for
the
real
estate
education
director,
which
shall
be
paid
out
of
the
real
estate
education
fund
.
Sec.
2.
Section
546.10,
subsection
3,
paragraph
b,
Code
2013,
is
amended
to
read
as
follows:
b.
Notwithstanding
subsection
5
,
eighty-five
percent
of
the
funds
received
annually
resulting
from
an
increase
in
licensing
fees
implemented
on
or
after
April
1,
2002,
by
a
licensing
board
or
commission
listed
in
subsection
1
,
is
appropriated
to
the
professional
licensing
and
regulation
bureau
to
be
allocated
to
the
board
or
commission
for
the
fiscal
year
beginning
July
1,
2002,
and
succeeding
fiscal
years,
for
purposes
related
to
the
duties
of
the
board
or
commission,
including
but
not
limited
to
additional
full-time
equivalent
positions.
In
addition,
notwithstanding
subsection
5,
twenty-five
dollars
from
each
real
estate
salesperson’s
license
fee
and
each
broker’s
license
fee
received
pursuant
to
section
543B.14
is
appropriated
to
the
professional
licensing
and
regulation
bureau
for
the
purpose
of
hiring
and
compensating
a
real
estate
education
director
and
regulatory
compliance
personnel.
The
director
of
the
department
of
administrative
services
shall
draw
warrants
upon
the
treasurer
of
state
from
the
funds
appropriated
as
provided
in
this
section
and
shall
make
the
funds
available
to
the
professional
licensing
and
regulation
bureau
on
a
monthly
basis
during
each
fiscal
year.
Sec.
3.
REPEAL.
Section
543B.54,
Code
2013,
is
repealed.
Sec.
4.
REAL
ESTATE
EDUCATION
FUND
——
REMAINING
FUNDS
TRANSFER.
Any
funds
remaining
in
the
real
estate
education
fund
on
June
30,
2013,
shall
not
revert
to
the
general
fund
of
the
state
but
are
appropriated
to
the
professional
licensing
and
regulation
bureau
of
the
banking
division
of
the
department
of
commerce.
Funds
appropriated
pursuant
to
this
section
shall
be
used
for
the
public
purpose
of
providing
a
grant
to
a
nonprofit
foundation
affiliated
with
a
statewide
association
of
real
estate
professionals
to
provide
real
estate
education
Senate
File
438,
p.
3
programs,
scholarship
assistance,
housing
assistance
programs,
or
to
otherwise
further
the
mission
of
the
foundation.
______________________________
PAM
JOCHUM
President
of
the
Senate
______________________________
KRAIG
PAULSEN
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
438,
Eighty-fifth
General
Assembly.
______________________________
MICHAEL
E.
MARSHALL
Secretary
of
the
Senate
Approved
_______________,
2013
______________________________
TERRY
E.
BRANSTAD
Governor
