OR HB4058 | 2024 | Regular Session
Status
Completed Legislative Action
Spectrum: Moderate Partisan Bill (Republican 15-3)
Status: Passed on March 12 2024 - 100% progression
Action: 2024-03-12 - Chapter 3, (2024 Laws): Effective date January 1, 2025.
Text: Latest bill text (Enrolled) [PDF]
Spectrum: Moderate Partisan Bill (Republican 15-3)
Status: Passed on March 12 2024 - 100% progression
Action: 2024-03-12 - Chapter 3, (2024 Laws): Effective date January 1, 2025.
Text: Latest bill text (Enrolled) [PDF]
Summary
The Act adds laws about residential property wholesalers. The Act changes laws about real estate licensees. The Act adds new defined terms. The Act defines "future right to list contract" and states that a real estate licensee may not take certain actions if the contract lasts more than 24 months. (Flesch Readability Score: 67.2). Creates a residential property wholesaler registration. Prohibits residential property wholesaling without a registration. Provides exceptions. Punishes a violation by a maximum of 364 days' imprisonment, a $6,250 fine, or both. Creates civil penalties. Requires real estate licensees acting as buyer's agents to use a written buyer's representation agreement. Requires real estate licensees acting as seller's agents to use a written listing agreement. Requires real estate licensees to disclose shared compensation. Prohibits real estate licensees from entering into long-term agreements that require buyers or sellers to use their services in the future.
Title
Relating to regulated real estate activities.
Sponsors
Roll Calls
2024-02-28 - Senate - Senate Third Reading (Y: 29 N: 1 NV: 0 Abs: 0) [PASS]
2024-02-22 - Senate - Senate Committee Do pass the A-Eng bill (Y: 4 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-14 - House - House Third Reading (Y: 60 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-13 - House - House Committee Do pass with amendments. (Printed A-Eng.) (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-22 - Senate - Senate Committee Do pass the A-Eng bill (Y: 4 N: 0 NV: 0 Abs: 1) [PASS]
2024-02-14 - House - House Third Reading (Y: 60 N: 0 NV: 0 Abs: 0) [PASS]
2024-02-13 - House - House Committee Do pass with amendments. (Printed A-Eng.) (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2024-03-12 | House | Chapter 3, (2024 Laws): Effective date January 1, 2025. |
| 2024-03-07 | House | Governor signed. |
| 2024-03-01 | Senate | President signed. |
| 2024-03-01 | House | Speaker signed. |
| 2024-02-28 | Senate | Meek declared potential conflict of interest. |
| 2024-02-28 | Senate | Third reading. Carried by Anderson. Passed. Ayes, 29; Nays, 1--Robinson. |
| 2024-02-27 | Senate | Carried over to 02-28 by unanimous consent. |
| 2024-02-26 | Senate | Second reading. |
| 2024-02-26 | Senate | Recommendation: Do pass the A-Eng. bill. |
| 2024-02-22 | Senate | Work Session held. |
| 2024-02-20 | Senate | Public Hearing held. |
| 2024-02-15 | Senate | Referred to Housing and Development. |
| 2024-02-15 | Senate | First reading. Referred to President's desk. |
| 2024-02-14 | House | Rules suspended. Third reading. Carried by Breese-Iverson. Passed. Ayes, 60. |
| 2024-02-14 | House | Second reading. |
| 2024-02-14 | House | Recommendation: Do pass with amendments and be printed A-Engrossed. |
| 2024-02-13 | House | Work Session held. |
| 2024-02-06 | House | Public Hearing held. |
| 2024-02-05 | House | Referred to Housing and Homelessness. |
| 2024-02-05 | House | First reading. Referred to Speaker's desk. |
