Legislature(2013 - 2014)SENATE FINANCE 532
03/05/2014 05:00 PM Senate FINANCE
| Audio | Topic |
|---|---|
| Start | |
| SB169 | |
| SB129 | |
| SB161 | |
| SB191 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| + | SB 129 | TELECONFERENCED | |
| + | SB 161 | TELECONFERENCED | |
| *+ | SB 191 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| += | SB 169 | TELECONFERENCED | |
| += | SB 138 | TELECONFERENCED | |
SENATE BILL NO. 129
"An Act extending the termination date of the Board of
Certified Real Estate Appraisers; and providing for an
effective date."
5:57:02 PM
TALLY TEAL, STAFF, SENATOR ANNA FAIRCLOUGH, stated that the
original version of the bill was a sunset bill that
extended the board of certified real-estate appraisers for
another 4 years; however Department of Commerce, Community
and Economic Development had approached the sponsors with
additional changes that needed to be made in order to be in
compliance with federal requirements. The requirements were
laid out in the Dodd-Frank Wall Street Reform and Consumer
Protection Act of 2010, which amended Title 11 of the
Financial Institutions Reform, Recovery and Enforcement Act
of 1989. She stated that Section 1 dealt with the extension
of the board. An audit completed in June of 2013
recommended that the board be extended until June 2018. The
4 year extension was half of the 8 year maximum and was
shortened because of the projected increase in federally
mandated responsibilities. She stated that the remaining
sections were designed to address the federal mandates.
5:58:23 PM
Co-Chair Kelly MOVED to ADOPT the proposed committee
substitute for SB 129, Work Draft 28-LS1208/P (Martin
3/5/14) as a working document. There being NO OBJECTION, it
was so ordered.
5:58:53 PM
Ms. Teal presented a sectional analysis to the bill:
Section 1. Amends AS 08.03.010(c)(19) to extend the
termination date of board by four years.
Section 2. Amends AS 08.87.020 by adding a reference
to the Dodd-Frank Wall Street Reform and Consumer
Protection Act to the powers and duties of the board.
Section 3. Repeals and reenacts AS 08.87.110(c), which
establishes a clearer pathway to license reciprocity
with other compliant states.
Section 4. Amends AS 08.87.110(e) by adding a
reference to the Dodd-Frank Wall Street Reform and
Consumer Protection Act to institutional real estate
appraiser certification requirements.
Section 5. Adds a new subsection, AS 08.87.110(h),
which allows the board to issue a general or
residential real estate certificate to a person who
does not meet the normal requirements if the board
deems them otherwise qualified.
Section 6. Amends AS 08.87.300(a) to lengthen record
retention requirements from three years to five years,
and to clarify the requirements for cases involved in
litigation.
Section 7. Repeals and reenacts AS 08.87.310,
effectively removing trainee/supervisor programs from
statute and allowing the board to implement the
programs through regulations.
Section 8. Amends AS 12.62.400(a) to give the
Department of Public Safety the authority to complete
background checks on applicants for real estate
appraiser certification.
Section 9. Repeals AS 08.87.300(b), which is rendered
unnecessary by the changes made to record retention
requirements in section 6 of this bill.
Section 10. Amends the uncodified law of the State of
Alaska by adding a new section to address the
applicability of sections 6 and 7, relating to record
retention requirements, and sections 2, 5, 8, and 9,
relating to changes in licensing and certification
requirements. More specifically, it clarifies that the
change in record retention requirements apply to
records created on or after the effective date of this
Act, and that the changes to certification
requirements apply to new certifications issued on or
after the effective date of this Act, and to
currently-held certifications when they are renewed.
Section 11. Provides for an immediate effective date
under AS 01.10.070(c).
6:01:08 PM
KRIS CURTIS, LEGISLATIVE AUDITOR, ALASKA DIVISION OF
LEGISLATIVE AUDIT, relayed that the division had conducted
a sunset review of the board with the purpose to determine
whether the board was serving the public interest and
should be extended. The division concluded that the board
was protecting the public interest by effectively licensing
and regulating real estate appraisers. The division had
recommended a 4 year extension due to the change in federal
law that significantly expanded the board's
responsibilities. She stated that the division did have 2
recommendations, neither of which were directed to the
board, but to the Division of Corporations, Business and
Professional Licensing. The first recommendation was that
the division should improve their administrative support to
the board, including delays in investigations. Secondly, it
was recommended that the director should improve the
investigative case management system. She noted that the
division issued recommendations for improvements in case
management systems for all occupational board sunsets in
2013.
6:03:01 PM
Co-Chair Meyer CLOSED public testimony.
6:04:06 PM
Ms. Marasigan spoke to the new Senate Finance fiscal note
attached to the bill. She noted that the first page of the
note reflected no changes from the previous note. She noted
that the major change to the note could be found on page 2,
which included a summary of the board's revenues,
expenditures and carry forward balance. She deferred any
additional questions concerning the fiscal note to David
Teal, Director, Legislative Finance Division.
6:05:48 PM
Co-Chair Kelly MOVED to REPORT CSSB 129(FIN) out of
committee with individual recommendations and the
accompanying fiscal note.
6:06:22 PM
CSSB 129(FIN) was REPORTED out of committee with a "do
pass" recommendation and with a new fiscal impact note from
the Senate Finance Committee.