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SPONSOR: |
Payne |
DATE TYPED: |
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HB |
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SHORT TITLE: |
Real Estate Licensee Requirements |
SB |
443/aHCPAC |
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ANALYST: |
Maloy |
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APPROPRIATION
Appropriation
Contained |
Estimated
Additional Impact |
Recurring or
Non-Rec |
Fund Affected |
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FY03 |
FY04 |
FY03 |
FY04 |
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NFI |
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NFI |
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Responses
Received From
No
Response received from Regulation and Licensing Department
SUMMARY
Synopsis
of HCPAC Amendment
The House Consumer and Public Affairs Committee
amended Senate Bill 443 to include an age requirement with the experience
requirement. The licensee must now be a minimum of 65 years of age and have 25
continuous years of experience to qualify
for the reduced continuing education standard.
Synopsis of Original
Bill
Senate Bill 443
provides that a real estate licensee with 25 years of continuous licensed experience
need not take 30 hours of continuing education every 3 years, as other licensees
must in order to renew their license.
The bill provides that the licensee with 25 years continuous licensed
experience need only take 8 hours of continuing education every 3 years.
Significant Issues
2. Currently, the exemption is a blanket exemption. No continuing education is required of those 65-years or older.
3. Changing the benchmark from 65-years or older to 25 years of continuous licensed experience is appropriate. The benchmark becomes more relevant.
4. Adding a minimum of 8 hours continuing education will provide an avenue for keeping up-to-date with changes in the professional and legal landscape.
ADMINISTRATIVE IMPLICATIONS
The Real Estate
Commission will be minimally impacted by having to verify the 8-hour continuing
education requirement for licensees with 25 years or more continuous licensed
experience at the time of renewal.
There will not likely
be many licensees for which this must be done.
The burden will fall on the licensee to present the Commission with the
appropriate documentation at the time of renewal. Therefore, the Commission should be able to
absorb this added administrative function with ease.
SJM/prr:yr