The proposed bill amends sections 32-2103 and 32-2107 of the Arizona Revised Statutes, specifically addressing the management of funds collected by the real estate department. Under current law, all collected monies are deposited into the state general fund unless otherwise specified. The new bill introduces a provision that requires certain fees collected under SECTION 32-2132 to be deposited into a newly established real estate information technology fund. This fund will receive specific amounts from broker and salesperson license and renewal fees through fiscal year 2027-2028, and reduced amounts starting in fiscal year 2028-2029.

Additionally, the bill clarifies that the revenue from the new fund will not be included in the revenue calculations for the department's budget, ensuring that the fees collected for technological upgrades are separate from the general revenue used for the department's operations. The bill also establishes the real estate information technology fund to support technological improvements and explicitly states that these funds cannot be used for staff salaries. Overall, the bill aims to enhance the technological capabilities of the real estate department while ensuring proper financial management of the collected fees.

Statutes affected:
Introduced Version: 32-2103, 32-2107, 35-146, 35-147, 32-2132, 2027-2028, 2028-2029