AB733: Bill Text

LRB-3952/1

MDK:kmg:ch

2003 - 2004 LEGISLATURE

2003 Assembly BILL 733

January 7, 2004 - Introduced by Representative Gard. Referred to Committee on Job Creation.

AB733,1,3 An Act to amend 452.09 (2) (a), 452.09 (2) (c) (intro.) and 452.09 (3) (d); and to create 452.05 (3) of the statutes; relating to: reciprocal agreements for real estate licenses.

Analysis by the Legislative Reference Bureau

Under current law, the Department of Regulation and Licensing (DRL) grants licenses that allow persons to practice as real estate brokers or salespersons. Current law specifies the requirements that a person must satisfy to obtain such a license. The Real Estate Board (board) advises DRL on rules regarding licensing and other matters.

This bill allows DRL to grant licenses to persons who are licensed as real estate brokers or salespersons in other states and territories, in addition to persons who satisfy the requirements specified under current law. Under the bill, DRL may, after consulting with the board, enter into reciprocal agreements with officials of other states or territories and grant licenses according to the terms of the agreements.

For further information see the state fiscal estimate, which will be printed as an appendix to this bill.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

AB733, s. 1 Section 1. 452.05 (3) of the statutes is created to read:

AB733,2,5 452.05 (3) The department may, after consultation with the board, enter into reciprocal agreements with officials of other states or territories of the United States for licensing brokers and salespersons and grant licenses to applicants who are licensed as brokers or salespersons in those states or territories according to the terms of the reciprocal agreements.

AB733, s. 2 Section 2. 452.09 (2) (a) of the statutes is amended to read:

AB733,2,13 452.09 (2) (a) Each Except as provided in a reciprocal agreement under s. 452.05 (3), each applicant for a salesperson's license shall submit to the department evidence satisfactory to the department of successful completion of educational programs approved for this purpose under s. 452.05 (1) (c). The department may waive the requirement under this paragraph upon proof that the applicant has received 10 academic credits in real estate or real estate related law courses from an accredited institution of higher education.

AB733, s. 3 Section 3. 452.09 (2) (c) (intro.) of the statutes is amended to read:

AB733,2,16 452.09 (2) (c) (intro.) Except as provided in par. (d) or a reciprocal agreement under s. 452.05 (3), each applicant for a broker's license shall do all of the following:

AB733, s. 4 Section 4. 452.09 (3) (d) of the statutes is amended to read:

AB733,2,21 452.09 (3) (d) The Except as provided in a reciprocal agreement under s. 452.05 (3), the department may not grant a broker's license to an applicant who does not hold a salesperson's license unless the applicant passes the salesperson's examination and the broker's examination.

AB733,2,22 (End)