SENATE BILL NO. 155 "An Act relating to the registration and regulation of real estate appraisal management companies; relating to the establishment of fees by the Department of Commerce, Community, and Economic Development; relating to the Board of Certified Real Estate Appraisers; and relating to real estate appraisers." 9:03:10 AM Vice-Chair Bishop MOVED to ADOPT the proposed committee substitute for SB 155, Work Draft 30-LS1295\O (Radford, 3/15/18). Co-Chair MacKinnon OBJECTED for discussion. 9:03:37 AM JULI LUCKY, STAFF, SENATOR ANNA MACKINNON, discussed, "Explanation of Changes CS for SB 155 (FIN) version: 30- LS1295\O" (copy on file): ? Reorganizes and rewords section 4 for clarity (page 3, lines 24-29). ? Removes the requirement that a controlling person be certified as a real estate appraiser in Alaska; the new CS requires the controlling person to be certified in "a state" on page 5, line 25. Co-Chair MacKinnon wondered whether there were more changes. Ms. Lucky discussed the final change in the bill: Adds effective date sections starting on page 10, line 14, to ensure that the bill is effective on the date required by the federal government and, if possible, give the department time to process applications prior to requiring registration. Specifically, the bill will take effect on August 10, 2018 unless the department notifies the revisor of statutes that an extension was granted, in which case the department would be able to start taking applications on January 1, 2019 and the AMCs would have to be registered by March 1, 2019. 9:07:32 AM SENATOR KEVIN MEYER, SPONSOR, supported the changes in the committee substitute. Co-Chair MacKinnon WITHDREW the objection. There being NO OBJECTION, it was so ordered. Ms. Lucky discussed the new fiscal note from Department of Commerce, Community and Economic Development (DCCED). Senator Micciche surmised that one-third of a position would be partnered with several other licensing responsibilities, and used only receipt services in the fiscal note. Ms. Lucky deferred to the department, but confirmed that it was all receipt-supported services. She stated that one-third or one-half was accurate. 9:09:29 AM AT EASE 9:10:02 AM RECONVENED 9:10:09 AM Co-Chair MacKinnon remarked that the public testimony had occurred in a previous meeting. Senator Meyer felt that there had been a thorough discussion of the bill. He remarked that other states had passed similar legislation. He noted that the committee substitute allowed for some flexibility. Vice-Chair Bishop MOVED to REPORT CSSB 155(FIN) out of committee with individual recommendations and accompanying fiscal note. There being NO OBJECTION, it was so ordered. CSSB 155 (FIN) was REPORTED out of committee with a "do pass" recommendation and with one new fiscal impact note from the Department of Commerce, Community and Economic Development. 9:12:01 AM AT EASE 9:14:12 AM RECONVENED