Indicates Matter Stricken

Indicates New Matter

 

Committee Report

February 26, 2025

 

H. 3947

 

Introduced by Reps. Hixon, Pedalino, McCabe and Vaughan

 

S. Printed 2/26/25--H.

Read the first time February 11, 2025

 

________

 

The committee on House Labor, Commerce and Industry

To whom was referred a Bill (H. 3947) to amend the South Carolina Code of Laws by amending Section 40-57-340, relating to biennial continuing education requirements for licensure renewal by the Real Estate Commission, etc., respectfully

Report:

That they have duly and carefully considered the same, and recommend that the same do pass:

 

WILLIAM HERBKERSMAN for Committee.

 

 

statement of estimated fiscal impact

Explanation of Fiscal Impact

State Expenditure

This bill provides that nonresident real estate brokers and nonresident real estate associates who successfully satisfy the continuing education requirements of their jurisdiction of residence may be exempt from South Carolina's continuing education requirements with approval of the Real Estate Commission.

 

This bill will have no expenditure impact on LLR or the Real Estate Commission as LLR

anticipates any additional responsibilities will be managed within existing appropriations. For reference, there are currently 11,682 nonresident brokers, broker-in-charge, and associates actively licensed in South Carolina.

 

Frank A. Rainwater, Executive Director

Revenue and Fiscal Affairs Office

 

_______

 

 

 

 

 

 

 

 

A bill

 

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 40-57-340, RELATING TO BIENNIAL CONTINUING EDUCATION REQUIREMENTS FOR LICENSURE RENEWAL BY THE REAL ESTATE COMMISSION, SO AS TO PROVIDE NONRESIDENT BROKERS AND NONRESIDENT ASSOCIATES WHO SUCCESSFULLY SATISFY CONTINUING EDUCATION REQUIREMENTS OF THEIR JURISDICTION OF RESIDENCE MAY BE EXEMPT FROM THE CONTINUING EDUCATION REQUIREMENTS OF THIS STATE WITH APPROVAL OF THE COMMISSION.

 

Be it enacted by the General Assembly of the State of South Carolina:

 

SECTION 1.  Section 40-57-340(B)(1) of the S.C. Code is amended to read:

 

        (1) Exempt from the biennial continuing education required by subsection (A) are:

           (a) an associate who successfully completes a post-licensing course or takes a broker course is exempt for the renewal period during which the course was taken;

           (b) a licensee while on inactive status;

           (c) a broker or associate with twenty-five years or more of licensure in South Carolina who is sixty-five years of age or more may apply for an age and experience-based full continuing education waiver, and upon granting of the waiver, is exempt from the continuing education requirements of this chapter;  or

           (d) a broker or associate with a minimum of twenty-five years of licensure in South Carolina who may apply to be granted an experience-based partial continuing education waiver, and upon granting of the waiver, is required to complete only a mandatory four-hour core course biennially to maintain active licensure; or

           (e) a nonresident broker or a nonresident associate who has successfully satisfied the continuing education requirements of their jurisdiction of residence may be exempt with approval of the commission.

 

SECTION 2.  This act takes effect upon approval by the Governor.

----XX----