Proposed New Laws That Will Impact Real Estate

The following two items were sponsored by CAR and were passed by the State Legislators with only one dissenting vote.

AB 1963 - Currently, an applicant with a four-year college degree in any subject could bypass the broker license requirement of two years experience in general real estate. AB 1963 proposed that effective January 1, 2007, this exception would no longer be available. The Governor vetoed AB 1963. Thus, this proposed restriction will not take effect.
Status:AB 1963 was vetoed by Governor on September 30, 2006.

AB 2429 - An applicant can now receive a Conditional Salesperson License by completing a three unit Principles Course and passing the State exam. During the first 18 months of licensure the licensee must complete a three unit course in Real Estate Practice and one other three unit course allowed by statute. Effective October 1, 2007, an applicant must complete all three of the above courses before a license will be issued. In other words, there will be no more conditional licenses after the effective date.
Status: AB 2429 was signed by the Governor on September 14, 2006.

If you want more information about any of these Bills, go to www.leginfo.ca.gov, or Realtors should contact CAR at www.car.org.

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