Arkansas 2023 Regular Session Status: In Committee

HB 1573 — TO AMEND THE LAW CONCERNING THE ARKANSAS REAL ESTATE COMMISSION; TO CREATE A PROPERTY MANAGEMENT BROKER AND PROPERTY MANAGEMENT ASSOCIATE LICENSE; AND TO AMEND THE REAL ESTATE LICENSE LAW.

Last action — Died in House Committee at Sine Die Adjournment

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

In plain language

The bill creates new licenses for property management brokers and associates in Arkansas.

This legislation amends Arkansas real estate law to introduce licenses specifically for property management brokers and associates. The aim is to streamline property management qualifications and potentially create more job opportunities in the sector.

What this means for you
  • Workers: This could create new job opportunities in property management for licensed professionals.

Bill Text

How this bill changes current law

5 changes Share ↗

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

This bill creates new property management broker and associate licenses, thereby amending existing real estate licensing laws in Arkansas.

  • Arkansas Code § 17-42-103

    and a salesperson, → , a property management associate, and a property management broker.

    This change adds property management associate and broker to the definition of 'licensee' in the real estate licensing law.

  • Arkansas Code § 17-42-103

    “Real estate broker” means a principal broker, an executive broker, or an associate broker; → “Real estate broker” means a principal broker, an executive broker, an associate broker, a property management associate, or a property management broker;

    This change updates the definition of 'real estate broker' to include property management associates and brokers.

  • Arkansas Code § 17-42-104(a)(6)

    A person other than a property management associate employed → A person other than a property management associate or property management broker employed

    This change clarifies the exemption from the Real Estate License Law specific to property management brokers.

  • Arkansas Code § 17-42-104(a)(6)

    to engage in the leasing of real property estate → to engage in the leasing of real property for or on behalf of a licensed principal broker, the real estate firm of a licensed principal broker, a licensed property management broker, or an owner of real estate, if the person:

    This change specifies the circumstances under which employees can engage in leasing real property without a license.

  • This chapter does not preclude a licensee from: (i) Doing business as a professional corporation under § 4-29-101 et seq.; or (ii) Receiving payment from a real estate firm or principal broker of an earned commission to the licensee's legal business entity if the licensee earned the commission on behalf of the real estate firm or principal broker;

    This addition clarifies that licensees can operate as professional corporations and receive commissions through their legal entities.

Action History

  1. Died in House Committee at Sine Die Adjournment

  2. Read the first time, rules suspended, read the second time and referred to the Committee on INSURANCE & COMMERCE- HOUSE

  3. Filed

Sponsors

Sponsorship breakdown

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2 sponsors · 19 co-sponsors · 117 not signed on

Sponsors (2)

Co-sponsors (19)

Not signed on (117)

117 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

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Frequently asked questions

Who sponsors HB 1573?
HB 1573 is sponsored by Richard Womack, Kendon Underwood, Johnny Rye, David Ray, Stetson Painter, Austin McCollum, Mindy McAlindon, Jack Ladyman, RJ Hawk, Zack Gramlich, Jimmy Gazaway, Matt Duffield, Harlan Breaux, Mary Bentley, Wade Andrews, Brandon Achor, Ronald Caldwell, Richard McGrew, Brit McKenzie, Jay Richardson, and R. Scott Richardson.
What is the current status of HB 1573?
This bill died with 2023 Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 1573?
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