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House approves using excess real estate recovery fund for industry education, HB123
Summary
Lawmakers approved HB123 to allow the Real Estate Education, Research and Recovery Fund to spend amounts in excess of $100,000 on education and research directed by the real estate commission; the bill passed 56–14 after extended debate over appropriations procedures and fee use.
The Utah House passed HB123 on Feb. 3, a bill that would allow the director and the Real Estate Commission to spend fund balances over $100,000 for education and research for licensees.
Sponsor Gary A. Abare told the chamber that the fund has grown to about $500,000 and that roughly $115,000–$120,000 has been used annually for…
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