SEVENTH EDITION by n26GQ3

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									                     REAL ESTATE INSTRUCTORS SEMINAR
        CT LEGISLATIVE UPDATE                                              
                                         APRIL 24, 2009
REAL ESTATE AND APPRAISAL LICENSING
Proposed Increase in Real Estate Licensing Fees: broker application fee: $60 to $120; salesperson
application fee: $40 to $80; initial broker license fee: $450 to $565; renewal broker license fee: $300 to
$375; initial salesperson license fee: $225 to $285; renewal salesperson license fee: $225 to $285. SB
837
Proposed Increase in Appraiser Fees: initial license certified appraisers: $300 to $375; initial license
licensed appraiser and limited licensed appraisers: $225 to $285; initial fee provisional appraisers: $50
to $100; renewal license all appraisers: $225 to $285; renewal fee provisional appraisers: $50 to $100;
proof of continuing education processing fee: $8 to $16. SB 837
Proposed Increase in Other Real Estate Registration Fees: new home construction contractor
registration: $120 to $240; home improvement contractor registration: $60 to $12; community
association managers certificate: $100 to $200; and many others. SB 837

REAL ESTATE PRACTICES
Proposed Disclosure of Leased Items: property condition disclosure form to include a statement listing
all leased appliances and other leased items (e.g. propane tanks, security systems). HB 5400

Proposed Disclosure of Historic District: property condition disclosure form to include municipal
contact information if property is located in an historic district or is an historic property. HB 6114

Proposed Mortgage Practices: prohibits specific acts or patterns of residential mortgage fraud with
criminal penalties for violation; amends the definition of "nonprime home loan" to make it consistent
with the definition of "higher priced loans" in Federal Reserve Regulation Z; provides additional
protections for borrowers. SB 949; HB 6367

Proposed Regulation of Short Sales: requires short sale consultant licensure with DOB. HB 6485

Proposed Residential Foreclosure Moratorium: imposes moratorium until January 1, 2010. HB 6144

Proposed Foreclosure Procedure Changes: allows strict foreclosure judgments to be reopened up to
four months after judgment. HB 1158

Proposed Buyer’s Conveyance Tax: allows towns to impose up to a 1% tax on buyers (for purchase
prices over $150,000) to be used for town open space preservation . HB 6397

Proposed Tax Credit for Green Buildings: establishes LEED certification project tax credits. SB 1033

Proposed Brownfield Redevelopment Rules: facilitates the development of brownfields. HB 6097

Proposed Lottery for Home Sales: establishes task force to study lottery homes sales. HB 5984

   status and text of 2009 CT bills and public acts can be found at http://www.cga.ct.gov 

								
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