BILL ANALYSIS C.S.S.B. 589 By: Brown Finance 04-28-95 Committee Report (Substituted) BACKGROUND The Real Estate Center at Texas A&M was created in 1971 in order to create an unbiased, reliable and timely source of real estate information. The funding for the center was tied to a fixed amount of each license renewal, and has remained unchanged since 1975. Neither original license applicants nor licensees changing their status contribute to the center. PURPOSE As proposed, C.S.S.B. 589 increases the cost of a real estate broker's license renewal from $15 to $17.50, and a salesman license from $7.50 to $17.50. RULEMAKING AUTHORITY It is the committee's opinion that this bill does not grant any additional rulemaking authority to a state officer, institution, or agency. SECTION BY SECTION ANALYSIS SECTION 1. Amends Section 5(m), Article 6573a, V.T.C.S. (The Real Estate License Act), to require the Texas Real Estate Commission (commission) to charge and collect as a condition for issuance and for renewal of a real estate broker license the fee under Section 11(a)(14) of this Act. Requires the commission to charge and collect as a condition for issuance and for renewal of a real estate salesman license the fee under Section 11(a)(15) of this Act. Requires the commission to transmit the fees under this subsection quarterly to Texas A&M University for deposit in a separate banking account. SECTION 2. Amends Section 11(a), Article 6573a, V.T.C.S., to include among the fees the commission is required to charge and collect an annual fee of $20 from each real estate broker to be transmitted to Texas A&M University for the Texas Real Estate Research Center (center) as provided by Section 5(m) of this Act; and an annual fee of $17.50 from each real estate salesman to be transmitted to the center as provided by Section 5(m) of this Act. SECTION 3. Effective date: September 1, 1995. Makes application of this Act prospective. SECTION 4. Emergency clause.