Legislature(2011 - 2012)SENATE FINANCE 532
02/06/2012 09:00 AM Senate FINANCE
Audio | Topic |
---|---|
Start | |
SB136 | |
SB158 | |
Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
+ | SB 136 | TELECONFERENCED | |
+ | SB 158 | TELECONFERENCED | |
+ | TELECONFERENCED |
SENATE BILL NO. 158 "An Act relating to the Real Estate Commission; and providing for an effective date." 9:20:59 AM Senator Egan explained SB 158, and referred to the Sponsor Statement (copy on file). He stated that SB 158 would allow the real estate commission to appoint an overseer to temporarily manage a brokerage in the event a broker was unable to for certain reasons, including a traumatic or medical event, having a license suspended, or upon an investigative finding that substantial evidence points to misappropriation of funds. This assured that trust accounts and other sensitive business affairs were handled responsibly. The bill would also clarify that a licensed assistant can only work for the brokerage in which they are licensed. Ambiguity in current law has been interpreted to allow an assistant licensed in a brokerage to work in any other brokerage or in multiple brokerages. The intent of current law was to limit an assistant to one brokerage. He furthered that SB 158 would also allow a licensee to donate a portion of a commission to charity. It would also allow a licensee to advertise that some of their commission would be donated to a charity. Co-Chair Stedman called Mr. Champion to the table. ERROL CHAMPION, PRESIDENT, SOUTHEAST ALASKA BOARD OF REALTORS, spoke in support of SB 158, and felt it would clarify current statute. Co-Chair Stedman noted recent issues regarding local brokerage firms and trust funds, and wondered if that influenced the legislation. Mr. Champion replied that a broker was found to have misused a trust fund, and there was no one that the Real Estate Commission could designate to monitor the fund. The person that was charged had to execute the close down of the fund. Co-Chair Stedman wondered why charitable contributions were included in SB 158. Mr. Champion replied that the bill would change the statute to allow the designation, and publicly declare the intention of the licensee. Senator Egan noted the zero fiscal note, and felt the zero fiscal note was merely housekeeping. Co-Chair Stedman mentioned the one previously published zero fiscal note from the Department of Commerce, Community and Economic Development. SB 158 was HEARD and HELD in committee for further consideration. Co-Chair Stedman discussed the following day's agenda.
Document Name | Date/Time | Subjects |
---|---|---|
Leg Research Vet Tax Credit Updated Report 12 28 11.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB136 memo of changes.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB136 AK Business Monthly Hiring Military Veterans is Good Business.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB136 Sectional Analysis.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB136 Sponsor Statement.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB136 Support Letter Dixie Banner.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB136 Support Letter Vets Helping Vets.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB136 Vietnam Veterans of America Support Letter.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 136 |
SB 158 lttr supporting Bates 012412.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 158 |
SB 158 Lttr supporting, Somers.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 158 |
SB 158 Sponsor Statement.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 158 |
SB158 lttr supporting AK Assoc of Realtors.pdf |
SFIN 2/6/2012 9:00:00 AM |
SB 158 |