TO: | Honorable Edmund Kuempel, Chair, House Committee on Licensing & Administrative Procedures |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | HB1406 by Geren ( Relating to practices and professions regulated by the Texas Real Estate Commission.), Committee Report 1st House, Substituted |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2010 | $139,000 |
2011 | $152,000 |
2012 | ($728,000) |
2013 | ($904,000) |
2014 | ($904,000) |
Fiscal Year | Probable Revenue (Loss) from General Revenue Fund 1 |
Probable Revenue Gain from Real Estate Trust Account 969 |
---|---|---|
2010 | $139,000 | $0 |
2011 | $152,000 | $0 |
2012 | ($728,000) | $880,000 |
2013 | ($904,000) | $1,056,000 |
2014 | ($904,000) | $1,056,000 |
The bill would amend the Occupations Code, relating to practices and professions regulated by the Texas Real Estate Commission (TREC). The bill would clarify that TREC could collect fees in amounts reasonable and necessary to cover the costs of administering and implementing the provisions of Chapter 1101 of the Code regarding real estate brokers and salespersons. The bill would specify that from the $200 fee for an individual brokers license, the $50 share deposited to Foundation School Fund 0193 would be unchanged; the General Revenue Fund 0001 share would be reduced from $150 to $100; and the remaining $50 would be deposited to the credit of Texas A&M University in a separate banking account that could be appropriated only to support, maintain, and carry out the purposes, objectives, and duties of Texas Real Estate Research Center. The bill would increase the fee for a salesperson license from $17.50 to $20. The bill would amend the Property Code, regarding timeshare properties, directing TREC to authorize the State Office of Administrative Hearings to conduct hearings in contested cases and for disciplinary proceedings, and allowing TREC to establish fees for forms and documents.
The bill would take effect immediately upon enactment, assuming that it received the requisite two-thirds majority votes in both houses of the Legislature. Otherwise, it would take effect September 1, 2009.
Source Agencies: | 304 Comptroller of Public Accounts, 329 Real Estate Commission, 360 State Office of Administrative Hearings, 710 Texas A&M University System Administrative and General Offices
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LBB Staff: | JOB, JRO, MW, NV
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