HLS 10RS-1397 ENGROSSED
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
Regular Session, 2010
HOUSE BILL NO. 435
BY REPRESENTATIVE PUGH
REAL ESTATE/COMMISSION: Authorizes additional uses for monies in the Real Estate
Research and Education Fund
AN ACT1
To enact R.S. 37:1464(C)(4), relative to the Real Estate Research and Education Fund; to2
authorize additional use of monies in the Real Estate Research and Education Fund;3
and to provide for related matters.4
Be it enacted by the Legislature of Louisiana:5
Section 1. R.S. 37:1464(C)(4) is hereby enacted to read as follows: 6
ยง1464. Real Estate Research and Education Fund 7
* * *8
C. The commission, in its discretion, may use any and all monies in the9
education fund from whatever source derived for the following purposes:10
* * *11
(4) To reduce the Louisiana Real Estate Commission office building debt for12
the Fiscal Years 2010-2011 and 2011-2012. This Paragraph shall cease to be13
effective on June 30, 2012.14
Section 2. This Act shall become effective on July 1, 2010; if vetoed by the governor15
and subsequently approved by the legislature, this Act shall become effective on July 1,16
2010, or on the day following such approval by the legislature, whichever is later.17 HLS 10RS-1397 ENGROSSED
HB NO. 435
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CODING: Words in struck through type are deletions from existing law; words underscored
are additions.
DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part
of the legislative instrument. The keyword, one-liner, abstract, and digest do not constitute
part of the law or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
Pugh HB No. 435
Abstract: Provides for additional uses of monies in the Real Estate Research and Education
Fund.
Present law allows the commission, in its discretion, to use any and all monies in the
education fund from whatever source derived for the following purposes:
(1)To establish real estate chairs at La. institutions of higher learning.
(2)To contract for particular research projects in the field of real estate for the state of
La.
(3)To sponsor, conduct, contract for, and to underwrite any and all other research
projects or real estate programs having to do with the advancement of the real estate
field in La.
Proposed law retains present law but allows the fund to be used to reduce the La. Real Estate
Commission office building debt for Fiscal Years 2010-2011 and 2011-2012.
Effective July 1, 2010.
(Adds R.S. 37:1464(C)(4))
Summary of Amendments Adopted by House
Committee Amendments Proposed by House Committee on Commerce to the original
bill.
1. Provided for only debt reduction on the La. Real Estate Commission building for
the Fiscal Years 2010-2011 and 2011-2012.
2. Changed effective date to July 1, 2010.