HB5505 Summary

• Standardizes board member terms to 4 years (expiring upon completion) across the Auction Advisory Board, Community Association Manager Licensing and Disciplinary Board, Real Estate Administration and Disciplinary Board, and Real Estate Appraisal Administration and Disciplinary Board

• Reduces maximum cumulative service limit from 12 years to 10 years for Real Estate Administration and Disciplinary Board members (applies to new reappointments only)

• Allows current Community Association Manager Licensing and Disciplinary Board members serving on the effective date to complete their unexpired terms before new 4-year terms begin

• Changes vacancy appointment process to allow Secretary to fill unexpired portions of terms (rather than requiring full new term appointments) for Auction Advisory Board, Community Association Manager Licensing and Disciplinary Board, and Real Estate Appraisal Administration and Disciplinary Board

• Takes effect immediately upon becoming law