BILL NUMBER: SB 1123 INTRODUCED
BILL TEXT
INTRODUCED BY Senator Negrete McLeod
FEBRUARY 18, 2010
An act to amend Section 10226.5 of the Business and Professions
Code, relating to real estate.
LEGISLATIVE COUNSEL'S DIGEST
SB 1123, as introduced, Negrete McLeod. Real Estate Fund.
The Real Estate Law provides for the examination and licensure of
real estate salespersons and real estate brokers and for payment of
specified fees for licenses issued in that regard, which fees are
deposited in the Real Estate Fund. Existing law creates the Education
and Research Account in the Real Estate Fund for purposes of real
estate education and research and provides for the Real Estate
Commissioner to require up to 8% of license fees to be deposited in
that account. Existing law requires the commissioner to reduce
license fees and other specified fees to specified levels within 30
days if the balance of funds in the Real Estate Fund exceeds 150% of
the Department of Real Estate's authorized budget for the following
year. Existing law also requires certain fees to be reduced to
specified levels if funds are transferred or loaned from the Real
Estate Fund to the General Fund by the Budget Act.
This bill would extend the application of these provisions to a
transfer or loan of funds from the Real Estate Fund to the General
Fund by any law. This bill would also require the specified real
estate fees to be reduced in the same manner if funds are transferred
or loaned from the Real Estate Fund to any special fund by the
Budget Act or any other law, except a transfer or loan from the
Education and Research Account of the fund that is consistent with
the purposes of the account and that is approved by the commissioner.
Vote: majority. Appropriation: no. Fiscal committee: yes.
State-mandated local program: no.
THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:
SECTION 1. Section 10226.5 of the Business and Professions Code is
amended to read:
10226.5. (a) If at any time funds are transferred or loaned from
the Real Estate Fund to the General Fund or any special fund
by the Budget Act or any other law , then 30 days
from and after the date of the transfer or loan, fees shall be
reduced as indicated in subdivision (b), irrespective of any
provisions of the Budget Act or other law precluding that
reduction. This subdivision shall not apply to a
transfer or loan of funds from the Education and Research Account to
a special fund consistent with the purposes of the account as
provided in this part, which transfer or loan is approved by the
commissioner.
(b) Fees shall be reduced pursuant to paragraph (a) to the
following maximum amounts:
(1) Real estate broker examination or reexamination: Fifty dollars
($50).
(2) First reschedule of broker examination: Fifteen dollars ($15);
subsequent reschedules: Twenty-five dollars ($25).
(3) Real estate broker license, original or renewal: One hundred
sixty-five dollars ($165).
(4) Real estate salesperson examination or reexamination:
Twenty-five dollars ($25).
(5) First reschedule of salesperson examination: Ten dollars
($10); subsequent reschedules: Twenty-five dollars ($25).
(6) Real estate salesperson license, original or renewal: One
hundred twenty dollars ($120).
(7) Real estate salesperson license without all educational
requirements: One hundred forty-five dollars ($145).
(8) A notice of intention without a completed questionnaire: One
hundred fifty dollars ($150).
(9) An original public report for subdivision interests described
in Section 11004.5: One thousand six hundred dollars ($1,600) plus
ten dollars ($10) for each subdivision interest to be offered.
(10) An original public report for subdivision interests other
than those described in Section 11004.5: Five hundred dollars ($500)
plus ten dollars ($10) for each interest to be offered.
(11) A conditional public report for subdivision interests
described in Section 11004.5: Five hundred dollars ($500).
(12) A conditional public report for subdivision interests other
than those described in Section 11004.5: Five hundred dollars ($500).
(13) A preliminary public report for subdivision interests
described in Section 11004.5: Five hundred dollars ($500).
(14) A preliminary public report for subdivision interests other
than those described in Section 11004.5: Five hundred dollars ($500).
(15) A renewal public report for subdivision interests described
in Section 11004.5: Five hundred dollars ($500).
(16) A renewal public report for subdivision interests other than
those described in Section 11004.5: Five hundred dollars ($500).
(17) An amended public report for subdivision interests described
in Section 11004.5: Three hundred dollars ($300) plus ten dollars
($10) for each subdivision interest to be offered under the amended
public report for which a fee has not previously been paid.
(18) An amended public report to offer subdivision interests other
than those described in Section 11004.5: Three hundred dollars
($300) plus ten dollars ($10) for each subdivision interest to be
offered under the amended public report for which a fee has not
previously been paid.
(19) An application for an original, renewal, or amended
registration as required by Section 10249: One hundred dollars
($100).
(20) The filing fee for an application for a permit to be issued
pursuant to Article 8.5 (commencing with Section 10250) for each
subdivision or phase of the subdivision in which interests are to be
offered for sale or lease shall be as follows:
(A) One thousand six hundred dollars ($1,600) plus ten dollars
($10) for each subdivision interest to be offered for an original
permit application.
(B) Five hundred dollars ($500) plus ten dollars ($10) for each
subdivision interest to be offered that was not permitted to be
offered under the permit to be renewed for a renewal permit
application.
(C) Three hundred dollars ($300) plus ten dollars ($10) for each
subdivision interest to be offered under the amended permit for which
a fee has not previously been paid for an amended permit
application.
(D) Five hundred dollars ($500) for a conditional permit
application.