Appraisal management company regulation-2. |
13LSO-0266.L1 |
FISCAL NOTE
This bill contains an appropriation of $60,000 from the REAL ESTATE APPRAISER BOARD ADMINISTRATION FUND to the BOARD OF REAL ESTATE APPRAISERS.
DETAIL OF APPROPRIATION
Agency #: 018 Agency Name: Real Estate Commission
Unit: 0701-Appraiser-AMC
EXPENDITURE BY SERIES AND YEAR FY 2013 FY 2014 FY 2015
0100 Personnel/Benefit Costs $39,500
0200 Supportive Services Costs $7,000
0400 Central/Data Services Costs $1,000
0500 Space Rental Costs $7,000
0900 Contractual Services Costs $5,500
Total Expenditure Per Year: $60,000
Grand Total Expenditure: $60,000
Total Appropriated to Agency: $60,000
Total Appropriated by Fund
REAL ESTATE APPRAISER BOARD
ADMINISTRATION FUND : $60,000
Description of appropriation:
The appropriation will be used to cover the costs of an added permanently assigned paralegal position. The funds will also be used to cover travel, dues and registrations for the added board member assigned in the bill. Additional funds will be used for space rental costs, new licensing software, contract investigator work and costs to cover additional hearings.
Assumptions:
This bill requires the Wyoming Certified Real Estate Appraisers Board to take on a new licensing category which will increase the work load for the agency. The bill expands the size of the board which will increase expenses related to travel reimbursements, registrations, memberships, etc. The board expects to update the current database software to include the new license category. The board also expects the number of complaints received to increase which may necessitate more contract investigator work and contested case hearings.
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FY 2014 |
FY 2015 |
FY 2016 |
NON-ADMINISTRATIVE IMPACT |
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Anticipated Revenue Increase: |
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AGENCY FUND |
$90,000 |
$90,000 |
$90,000 |
Source of revenue increase:
Fees collected from the registration of Appraisal Management Companies.
Assumptions:
The board expects approximately 90 Appraisal Management Companies to register at a fee of $1,000. The fee will be set to ensure that this is a self-sustaining program.
On its own, this bill will not result in a significant revenue increase from fees or require additional personnel and/or funding. However, passage of multiple bills of this type may result in a cumulative administrative impact to the Division of Criminal Investigation.
Prepared by: Kelley Shepp, LSO Phone: 307-777-7881
(Information provided by: Trenton Hogg, Real Estate Commission and Laura Gorny, Attorney General's Office Phone: 307-777-7141 and 307-777-7840)