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.  

 

 

 

FY 2014

FY 2015

FY 2016

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase:

 

 

 

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)