Michigan: Michigan does not have administrative rules regarding use of approved forms and does not use terminology relating to firm.
Minnesota: Minnesota does not have administrative rules regarding use of approved forms and does not use terminology relating to firm.
Summary of factual data and analytical methodologies:
The Board received information from the Legislative Reference Bureau regarding obsolete cross-references and stakeholders regarding the terminology updates.
Analysis and supporting documents used to determine effect on small business or in preparation of economic impact analysis:
This rule repeals obsolete references and updates terminology. There is no new policy and no effect on small businesses.
Fiscal Estimate and Economic Impact Analysis:
The Fiscal Estimate and Economic Impact Analysis is attached.
Effect on small business:
These proposed rules do not have an economic impact on small businesses, as defined in s. 227.114 (1), Stats. The Department’s Regulatory Review Coordinator may be contacted by email at Kirsten.Reader@wisconsin.gov, or by calling (608) 267-2435. Agency contact person:
Sharon Henes, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, 1400 East Washington Avenue, Room 151, P.O. Box 8366, Madison, Wisconsin 53708; telephone 608-261-2377; email at DSPSAdminRules@wisconsin.gov. ---------------------------------------------------------------------------------------------------------------------
TEXT OF RULE
Section 1. REEB 16.03 (1) (intro.) is amended to read:
REEB 16.03 (1) In addition to forms prepared and approved by the board pursuant to s. 452.05 (1) (b), Stats., the board approves the following forms for use by licensees brokers: Section 2. REEB 25.023 (4) (a) 3. is repealed.
Section 3. REEB 25.028 (1) (g) (intro.) is renumbered REEB 25.028 (1) (g) and is amended to read:
REEB (1) (g) Licensure and supervision of employees Licensees associated with a firm under ch. REEB 17, including all of the following:. Section 4. REEB 25.028 (1) (g) 1., to 3. are repealed.
Section 5. REEB 25.033 (14) (b) is amended to read:
Section 6. REEB 25.038 (5) (b) is amended to read:
Section 7. EFFECTIVE DATE. The rules adopted in this order shall take effect on the first day of the month following publication in the Wisconsin Administrative Register, pursuant to s. 227.22 (2) (intro.), Stats. ---------------------------------------------------------------------------------------------------------------------
(END OF TEXT OF RULE)
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Dated __June 14, 2018____ Agency _____________/s/_____________________
Chair
Real Estate Examining Board
