(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 38-33.3401. The amount of the registration fee shall be sufficient to recover these costs, subject to a maximum limit of fifty dollars.
Based upon the appropriation made and subject to the approval of the executivedirector, 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 24-34101, 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.
Beginning July 1, 1979, and each July 1 thereafter, whenever money appropriated tothe 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.
Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 630, § 1, effective October 1.
Editor's note: This section is similar to former § 12-61-111.5 as it existed prior to 2019.