2023 Colorado Revised Statutes › Title 12 - PROFESSIONS AND OCCUPATIONS (§§ 12-1-101 — 12-315-310) › DIVISION OF REAL ESTATE (§§ 12-10-101 — 12-10-906) › Article 10 - REAL ESTATE (§§ 12-10-101 — 12-10-906) › Part 2 - BROKERS AND SALESPERSONS (§§ 12-10-201 — 12-10-227) › Section 12-10-215 - Fee adjustments - cash fund created

(1)
This section applies to all activities of the division under parts 2, 5, 6, and 7 of this article 10.
(2)
(a)
(I)
The division shall propose, as part of its annual budget request, an adjustment in the amount of each fee that it is authorized by law to collect under parts 2, 5, 6, and 7 of this article 10. The budget request and the adjusted fees for the division must reflect direct and indirect costs.
(II)
The costs of the HOA information and resource center, created in section
12-10-801
, shall be paid from the division of real estate cash fund created in this section. The division shall estimate the direct and indirect costs of operating the HOA information and resource center and shall establish the amount of the annual registration fee to be collected under section
38-33.3-401
. The amount of the registration fee shall be sufficient to recover these costs, subject to a maximum limit of fifty dollars.
(b)
Based upon the appropriation made and subject to the approval of the executive director, the division shall adjust its fees so that the revenue generated from the fees approximates its direct and indirect costs incurred in administering the programs and activities from which the fees are derived. The fees shall remain in effect for the fiscal year for which the budget request applies. All fees collected by the division, not including fees retained by contractors pursuant to contracts entered into in accordance with section
12-10-203
or
24-34-101
, shall be transmitted to the state treasurer, who shall credit the same to the division of real estate cash fund, which fund is hereby created. All money credited to the division of real estate cash fund shall be used as provided in this section or in section
12-10-214
and shall not be deposited in or transferred to the general fund of this state or any other fund.
(c)
Beginning July 1, 1979, and each July 1 thereafter, whenever money appropriated to the division for its activities for the prior fiscal year is unexpended, the money shall be made a part of the appropriation to the division for the next fiscal year, and the amount shall not be raised from fees collected by the division. If a supplemental appropriation is made to the division for its activities, its fees, when adjusted for the fiscal year next following that in which the supplemental appropriation was made, shall be adjusted by an additional amount that is sufficient to compensate for the supplemental appropriation. Funds appropriated to the division in the annual long appropriations bill shall be designated as a cash fund and shall not exceed the amount anticipated to be raised from fees collected by the division.
Renumbered from C.R.S. §
12-61-111.5
and amended by 2019 Ch. 136, § 1, eff. 10/1/2019.
Amended by 2018 Ch. 273, § 2, eff. 5/29/2018.
Amended by 2017 Ch. 282, § 8, eff. 6/30/2017.
Amended by 2017 Ch. 264, § 20, eff. 5/25/2017.
Amended by 2015 Ch. 259, § 26, eff. 8/5/2015.
Amended by 2013 Ch. 352, § 5, eff. 1/1/2015.
L. 79: Entire section added, p. 571, § 6, effective July 1. L. 89: (1) and (2)(a) amended, p. 735, § 5, effective July 1. L. 90: Entire section amended, p. 845, § 2, effective July 1. L. 2004: (2)(b) amended, p. 1254, § 6, effective May 27. L. 2010: (2)(a) amended, (HB 10 -1278), ch. 365, p. 1721, § 2, effective 1/1/2011. L. 2013: (1) and (2)(a)(I) amended, (HB 13-1277), ch. 352, p. 2054, § 5, effective 1/1/2015. L. 2015: (2)(a)(II) amended, (SB 15-264), ch. 259, p. 948, § 26, effective August 5. L. 2017: (1) and (2)(a)(I) amended, (SB 17-294), ch. 264, p. 1389, § 20, effective May 25; (1), (2)(a), and (2)(b) amended, (SB 17-215), ch. 282, p. 1536, § 8, effective June 30. L. 2018: (2)(b)(II)(A) repealed, (HB 18-1291), ch. 273, p. 1688, § 2, effective May 29.
This section is similar to former § 12-61-111.5 as it existed prior to 2019.