Iowa 2023-2024 Regular Session

Iowa House Bill HSB595

Introduced
1/22/24  
Introduced
1/22/24  

Caption

A bill for an act relating to real estate brokers, and the rental or leasing of real estate, and including effective date and applicability provisions.(See HF 2326.)

Impact

The bill is set to simplify the legal framework for entities involved in the rental and leasing sectors by allowing owners of corporate structures, such as partnerships and limited liability companies, to operate without having to comply with all licensing requirements as mandated in previous laws. This could enhance business fluidity, particularly for small to medium enterprises involved in real estate operations. Additionally, administrative processes concerning the Real Estate Commission may encounter fewer complexities due to a reduction in licensing burdens for certain entities.

Summary

House Study Bill 595, proposed for consideration in the Iowa General Assembly, addresses regulations surrounding real estate brokers and the rental or leasing of real estate properties. The bill amends existing definitions and introduces specific exceptions to the rules governing brokers. It defines a real estate broker similarly to current law but clarifies the scenarios under which certain entities are exempt from licensure requirements, specifically targeting partnerships and business entities. Under the proposed amendments, individuals with ownership interests in these entities can engage in activities related to real estate leasing without requiring a broker's license, thereby expanding potential participation in the leasing market.

Contention

There are potential points of contention surrounding HSB595, especially among industry stakeholders concerned about the implications of relaxing licensing requirements. Proponents argue that the bill could foster increased participation in the leasing sector and reduce barriers for small business owners, thereby stimulating economic activity. Conversely, critics may express concern regarding regulatory oversight and the potential for increased illegal practices in the real estate domain without adequate protections in place for consumers. The effectiveness of this bill to achieve its goals hinges on balancing the need for accessibility in the marketplace with the crucial need for consumer protections.

Companion Bills

IA HF2326

Replaced by A bill for an act relating to real estate brokers, the rental or leasing of real estate, and brokerage agreements, and including effective date and applicability provisions. (Formerly HSB 595.) Effective date: Enactment, 04/19/2024, 07/01/2024.

Previously Filed As

IA HSB628

A bill for an act relating to the practice of licensed professions and the duties of the professional licensing boards, including applications, renewals, and fees, and including applicability provisions.(See HF 2666.)

IA SSB3077

A bill for an act relating to the practice of licensed professions and the duties of the professional licensing boards, including applications, renewals, and fees, and including applicability provisions.

IA HF2695

A bill for an act relating to the application of foreign law and limiting changes in venue of civil actions, and including applicability provisions. (Formerly HF 2554.) Effective date: 07/01/2026 Applicability date: 07/01/2026

IA HF624

A bill for an act relating to the farm tenancy net income exclusion available against the individual income tax, and including effective date and retroactive applicability provisions.(Formerly HF 56.)

IA SF314

A bill for an act relating to the license application form for real estate brokers and salespersons, and brokerage agreement requirements. (Formerly SF 15.) Effective date: 07/01/2025.

IA SF2225

A bill for an act relating to property law, including rental properties, manufactured home communities, mobile home parks, and actions relating to such properties, making penalties applicable, and including effective date and applicability provisions.

IA HF1028

A bill for an act relating to matters under the purview of the department of management, and including effective date and applicability provisions. (Formerly HF 756, HSB 72.) Effective date: 07/01/2026, 07/01/2027. Applicability date: 07/01/2026.

IA SSB1203

A bill for an act creating a specialty business court, providing fees, and including effective date and applicability provisions.(See SF 570, SF 639.)

IA SF570

A bill for an act creating a specialty business court, providing fees, and including effective date and applicability provisions.(Formerly SSB 1203; See SF 639.)

IA HF876

A bill for an act providing for the disclosure of lead service lines in real estate disclosures and including effective date provisions. (Formerly HF 442.) Effective date: 01/01/2026.

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