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House panel approves Securities Department budget and 20% hike for several license fees
Summary
The House Appropriations Government Operations section voted to advance House Bill 1011 after agreeing to raise several securities license fees — including the broker-agent fee from $60 to $75 — and to forward the amended budget to the full committee.
The Government Operations section of the House Appropriations Committee on Thursday approved an amended budget for the North Dakota Securities Department and voted to raise several licensing fees, including increasing the individual broker/agent registration fee from $60 to $75.
In the committee room, Commissioner Tim Karski of the Securities Department told lawmakers the department has not raised many of these fees in more than 20 years and that the agency’s operations are largely automated. “I will personally tell you that I am gonna look at that,” Karski said of a fee review; he corrected the record earlier in the hearing that an Edward Jones settlement payment the agency had received was $320,000, not $320,000,000.
Committee members said they wanted modest increases to bring North Dakota closer to peer states while avoiding sticker shock for national…
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