BILL ANALYSIS                                                                                                                                                                                                    �



                                                                  SB 676
                                                                  Page  1

          Date of Hearing:   August 21, 2013

                        ASSEMBLY COMMITTEE ON APPROPRIATIONS
                                  Mike Gatto, Chair

                     SB 676 (Block) - As Amended:  May 14, 2013 

          Policy Committee:                             Business and  
          Professions  Vote:                            13 - 0 
                       Banking                                  9 - 0 

          Urgency:     No                   State Mandated Local Program:  
          No     Reimbursable:              

           SUMMARY  

          This bill authorizes the Bureau of Real Estate (BRE) to suspend  
          or revoke the license of any real estate broker, real estate  
          salesperson, or corporation licensed as a real estate broker if  
          they knowingly destroy, alter, conceal mutilate, or falsify any  
          books, accounts, or records that are required to be maintained.   


           FISCAL EFFECT  

          There are no significant costs associated with this legislation.  


           COMMENTS  

           Purpose  . Existing law requires a real estate broker to maintain  
          copies of all records connected with real estate transactions  
          for three years.  Failure to do so is a misdemeanor punishable  
          by a fine not exceeding $10,000, or by imprisonment in the  
          county jail not exceeding six months, or both.  Presently, to  
          revoke the real estate license of a licensee who destroys or  
          alters these records requires that BRE prove that the act  
          constitutes fraud or dishonest dealing.  This is difficult when  
          the records have been destroyed or altered.  This bill will  
          allow BRE to take administrative action directly. 

          This bill provides direct authorization for BRE to suspend or  
          revoke a real estate license if the licensee knowingly destroys  
          or alters any records that are required to be maintained or are  
          sought by the Real Estate Commissioner.       








                                                                  SB 676
                                                                  Page  2



           Analysis Prepared by  :    Julie Salley-Gray / APPR. / (916)  
          319-2081