BILL ANALYSIS Ó
SENATE COMMITTEE ON APPROPRIATIONS
Senator Ricardo Lara, Chair
2015 - 2016 Regular Session
AB 2330 (Ridley-Thomas) - Real estate licensees
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|Version: June 14, 2016 |Policy Vote: B., P. & E.D. 9 - |
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|Urgency: No |Mandate: Yes |
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|Hearing Date: August 1, 2016 |Consultant: Brendan McCarthy |
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This bill does not meet the criteria for referral to the
Suspense File.
Bill
Summary: AB 2330 would require the Bureau of Real Estate to
publish information on its website regarding whether a licensee
is an associate licensee. For associate licensees who are
brokers, the bill would require the Bureau to identify each
responsible broker that the associate licensee is contractually
associated with.
Fiscal
Impact: One-time costs of about $140,000 per year for two years
and ongoing costs of $80,000 per year to collect the required
information and make it available on the Bureau's website (Real
Estate Fund).
Background: Under current law, the Bureau of Real Estate licenses real
estate brokers and salespersons in the state. Real estate
salespersons are licensed and work under a licensed broker, who
AB 2330 (Ridley-Thomas) Page 1 of
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has retains fiduciary responsibly to the client. Under current
law, an associate licensee is a licensed salesperson or licensed
broker who is working under the supervision of a licensed
broker. Under current law and practice, the Bureau of Real
Estate publishes information about licensed salespersons and
brokers on its website.
Proposed Law:
AB 2330 would require the Bureau of Real Estate to publish
information on its website regarding whether a licensee is an
associate licensee. For associate licensees who are brokers, the
bill would require the Bureau to identify each responsible
broker that the associate licensee is contractually associated
with.
In other words, the bill would require the information on the
Bureau's website to indicate whether a licensed broker is
working under the supervision of another broker.
The only costs that may be incurred by a local agency relate to
crimes and infractions. Under the California Constitution, such
costs are not reimbursable by the state.
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