BRIEF DESCRIPTION: The Real Estate Commission proposed to adopt regulation changes regarding the recovery fund fee. The Commission is increasing the fee to comply with 08.88.455, which requires minimum and maximum amounts of monies in the recovery fund.
The Real Estate Commission (Commission) proposed to adopt regulation changes in Title 12, Chapter 64 of the Alaska Administrative Code including the following:
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12 AAC 64.073. Recovery fund fee. The recovery fund fee is being increased to comply with AS 08.88.455.
You may comment on the proposed regulation changes, including the potential costs to private persons of complying with the proposed changes, by submitting written comments to Sher Zinn, Regulations Specialist, Division of Corporations, Business and Professional Licensing, P.O. Box 110806, Juneau, AK 99811-0806. Additionally, the Commission will accept comments by facsimile at (907) 465-2974 and by electronic mail at RegulationsAndPublicComment@alaska.gov. Comments may also be submitted through the Alaska Online Public Notice System by accessing this notice on the system at http://notice.alaska.gov/195237, and using the comment link. The comments must be received not later than 4:30 p.m. on September 24, 2019. Comments received after this deadline will not be considered by the Commission.
You may submit written questions relevant to the proposed action to Sher Zinn, Regulations Specialist, Division of Corporations, Business and Professional Licensing, P.O. Box 110806, Juneau, AK 99811-0806 or by e-mail at RegulationsAndPublicComment@alaska.gov. The questions must be received at least 10 days before the end of the public comment period. The Commission will aggregate its response to substantially similar questions and make the questions and responses available on the Alaska Online Public Notice System and on the Commission’s website at https://www.commerce.alaska.gov/web/cbpl/ProfessionalLicensing/RealEstateCommission.aspx. The Commission may, but is not required to, answer written questions received after the 10-day cut-off date and before the end of the comment period.
If you are a person with a disability who needs a special accommodation in order to participate in this process, please contact Sher Zinn at (907) 465-1049 or RegulationsAndPublicComment@alaska.gov, not later than September 17, 2019, to ensure that any necessary accommodation can be provided.
A copy of the proposed regulation changes is available on the Alaska Online Public Notice System and by contacting Sher Zinn at (907) 465-1049 or RegulationsAndPublicComment@alaska.gov, or go to https://www.commerce.alaska.gov/web/portals/5/pub/RECF-0819.pdf.
After the public comment period ends, the Commission will either adopt the proposed regulation changes or other provisions dealing with the same subject, without further notice, or decide to take no action. The language of the final regulations may be different from that of the proposed regulations. You should comment during the time allowed if your interests could be affected. Written comments and questions received are public records and are subject to public inspection.
Statutory Authority: AS 08.88.081, AS 08.88.455
Statutes Being Implemented, Interpreted, or Made Specific: AS 08.88.081, AS 08.88.455
Fiscal Information: The proposed regulation changes are not expected to require an increased appropriation.
DATE: 8/23/19
Sher Zinn, Regulations Specialist
Division of Corporations, Business and Professional Licensing
For each occupation regulated under the Division of Corporations, Business and Professional Licensing, the Division keeps a list of individuals or organizations who are interested in the regulations of that occupation. The Division automatically sends a Notice of Proposed Regulations to the parties on the appropriate list each time there is a proposed change in an occupation's regulations in Title 12 of the Alaska Administrative Code. If you would like your address added to or removed from such a list, send your request to the Division at the address above, giving your name, either your e-mail address or mailing address (as you prefer for receiving notices), and the occupational area in which you are interested.
ADDITIONAL REGULATION NOTICE INFORMATION
(AS 44.62.190(d))
1. Adopting agency: Real Estate Commission - Department of Commerce, Community, and Economic Development, Division of Corporations, Business and Professional Licensing.
2. General subject of regulation: Increase in Recovery Fund fee.
3. Citation of regulation: 12 AAC 64.073
4. Department of Law file number: To be assigned.
5. Reason for the proposed action: Compliance with AS 08.88.455.
6. Appropriation/Allocation: Corporations, Business and Professional Licensing - #2360.
7. Estimated annual cost to comply with the proposed action to:
A private person: For new applicants and currently licensed real estate salespersons, real
estate brokers, and real estate associate brokers, $50 per two-year renewal period, an
increase of $20.
Another state agency: None known.
A municipality: None known.
8. Cost of implementation to the state agency and available funding (in thousands of
dollars): No costs are expected in FY 2020 or in subsequent years.
9. The name of the contact person for the regulation:
Nancy Harris, Acting Executive Administrator
Alaska Real Estate Commission
Division of Corporations, Business and Professional Licensing
Department of Commerce, Community, and Economic Development
Telephone: (907) 269-8168
E-mail: Nancy.harris@alaska.gov
10. The origin of the proposed action: Real Estate Commission.
11. Date: 8/23/19
Prepared by: Sher Zinn, Regulations Specialist