Multiple Agency Fiscal Note Summary — Bill Number 5399 SB, Future Listing Contracts (Final)
Summary
Multiple Agency Fiscal Note Summary for Bill Number 5399 SB, titled Future listing contracts, prepared by Kyle Siefering, OFM, and marked Final. The summary lists the Department of Licensing with 15,000 in estimated cash receipts and 15,000 in operating expenditures for 2023-25, and shows No fiscal impact for the Administrative Office of the Courts. It includes a Judicial Impact Fiscal Note and a Department of Licensing note. The Licensing narrative says a one-time assessment per license would go into a planned fee rulemaking process in the spring of 2024, with any proposed fee increases effective in June 2024.
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“Multiple Agency Fiscal Note Summary — Bill Number 5399 SB, Future Listing Contracts (Final).”
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Multiple Agency Fiscal Note Summary
Bill Number: 5399 SB Title: Future listing contracts
Estimated Cash Receipts
Agency Name 2023-25 2025-27 2027-29
GF-State NGF-Outlook Total GF-State NGF-Outlook Total GF-State NGF-Outlook Total
Department of 0 0 15,000 0 0 0 0 0 0
Licensing
Total $ 0 0 15,000 0 0 0 0 0 0
Agency Name 2023-25 2025-27 2027-29
GF- State Total GF- State Total GF- State Total
Local Gov. Courts No fiscal impact
Loc School dist-SPI
Local Gov. Other
Local Gov. Total
Estimated Operating Expenditures
Agency Name 2023-25 2025-27 2027-29
FTEs GF-State NGF-Outlook Total FTEs GF-State NGF-Outlook Total FTEs GF-State NGF-Outlook Total
Administrative .0 0 0 0 .0 0 0 0 .0 0 0 0
Office of the
Courts
Department of .0 0 0 15,000 .0 0 0 0 .0 0 0 0
Licensing
Total $ 0.0 0 0 15,000 0.0 0 0 0 0.0 0 0 0
Agency Name 2023-25 2025-27 2027-29
FTEs GF-State Total FTEs GF-State Total FTEs GF-State Total
Local Gov. Total
Local Gov. Courts No fiscal impact
Loc School dist-SPI
Local Gov. Other
Estimated Capital Budget Expenditures
Agency Name 2023-25 2025-27 2027-29
FTEs Bonds Total FTEs Bonds Total FTEs Bonds Total
Administrative Office of .0 0 0 .0 0 0 .0 0 0
the Courts
Department of Licensing .0 0 0 .0 0 0 .0 0 0
Total $ 0.0 0 0 0.0 0 0 0.0 0 0
FNPID 66156
:
FNS029 Multi Agency rollup
Agency Name 2023-25 2025-27 2027-29
FTEs GF-State Total FTEs GF-State Total FTEs GF-State Total
Local Gov. Courts No fiscal impact
Loc School dist-SPI
Local Gov. Other
Local Gov. Total
Estimated Capital Budget Breakout
Prepared by: Kyle Siefering, OFM Phone: Date Published:
(360) 995-3825 Final
FNPID 66156
:
FNS029 Multi Agency rollup
Judicial Impact Fiscal Note
Bill Number: 5399 SB Title: Future listing contracts Agency: 055-Administrative Office of
the Courts
Part I: Estimates
X No Fiscal Impact
Estimated Cash Receipts to:
NONE
Estimated Expenditures from:
NONE
Estimated Capital Budget Impact:
NONE
The revenue and expenditure estimates on this page represent the most likely fiscal impact. Responsibility for expenditures may be
subject to the provisions of RCW 43.135.060.
Check applicable boxes and follow corresponding instructions:
If fiscal impact is greater than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete entire fiscal note form
Parts I-V.
If fiscal impact is less than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete this page only (Part I).
Capital budget impact, complete Part IV.
Contact Phone: Date: 01/20/2023
Agency Preparation: Angie Wirkkala Phone: 360-704-5528 Date: 01/26/2023
Agency Approval: Chris Stanley Phone: 360-357-2406 Date: 01/26/2023
OFM Review: Gaius Horton Phone: (360) 819-3112 Date: 01/30/2023
179,997.00 Request # 077-1
Form FN (Rev 1/00) 1 Bill # 5399 SB
FNS061 Judicial Impact Fiscal Note
Part II: Narrative Explanation
II. A - Brief Description Of What The Measure Does That Has Fiscal Impact on the Courts
The bill defines the term "future listing right purchase contract" as a contractual right that obligates a seller to enter into a real estate
listing agreement with a purchasing company in the future relating to the sale of a residential home, townhouse, or condominium. These
contracts cannot last longer than five years from the purchase date, which is the date on which the prospective seller agrees with the
purchasing company to give their future listing right to the purchasing company in exchange for moneys paid to the seller as
consideration for entering into a future listing right contract. Listing right purchase contracts are permitted to act as a lien that is
subordinate to a financing, refinancing or home equity line of credit
II. B - Cash Receipts Impact
None
II. C - Expenditures
No fiscal impact expected to the Administrative Office of the Courts and the courts.
Part III: Expenditure Detail
III. A - Expenditure By Object or Purpose (State)
NONE
III. B - Expenditure By Object or Purpose (County)
NONE
III. C - Expenditure By Object or Purpose (City)
NONE
III. D - FTE Detail
NONE
III. E - Expenditures By Program (optional)
NONE
Part IV: Capital Budget Impact
IV. A - Capital Budget Expenditures
NONE
IV. B1 - Expenditures by Object Or Purpose (State)
NONE
IV. B2 - Expenditures by Object Or Purpose (County)
NONE
IV. B3 - Expenditures by Object Or Purpose (City)
NONE
IV. C - Capital Budget Breakout
Acquisition and construction costs not reflected elsewhere on the fiscal note and description of potential financing methods.
NONE
179,997.00 Request # 077-1
Form FN (Rev 1/00) 2 Bill # 5399 SB
FNS061 Judicial Impact Fiscal Note
None
179,997.00 Request # 077-1
Form FN (Rev 1/00) 3 Bill # 5399 SB
FNS061 Judicial Impact Fiscal Note
Individual State Agency Fiscal Note
Bill Number: 5399 SB Title: Future listing contracts Agency: 240-Department of Licensing
Part I: Estimates
No Fiscal Impact
Estimated Cash Receipts to:
ACCOUNT FY 2024 FY 2025 2023-25 2025-27 2027-29
Real Estate Commission Account-State 15,000 15,000
026-1
Total $ 15,000 15,000
Estimated Operating Expenditures from:
FY 2024 FY 2025 2023-25 2025-27 2027-29
Account
Real Estate Commission Account-State 15,000 0 15,000 0 0
026-1
Total $ 15,000 0 15,000 0 0
Estimated Capital Budget Impact:
NONE
The cash receipts and expenditure estimates on this page represent the most likely fiscal impact. Factors impacting the precision of these estimates,
and alternate ranges (if appropriate), are explained in Part II.
Check applicable boxes and follow corresponding instructions:
If fiscal impact is greater than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete entire fiscal note
form Parts I-V.
X If fiscal impact is less than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete this page only (Part I).
Capital budget impact, complete Part IV.
X Requires new rule making, complete Part V.
Legislative Contact: Phone: Date: 01/20/2023
Agency Preparation: Gina Rogers Phone: 360-634-5036 Date: 01/23/2023
Agency Approval: Gerrit Eades Phone: (360)902-3863 Date: 01/23/2023
OFM Review: Kyle Siefering Phone: (360) 995-3825 Date: 01/23/2023
Form FN (Rev 1/00) 179,439.00 Request # SB 5399-3
FNS063 Individual State Agency Fiscal Note 1 Bill # 5399 SB
Part II: Narrative Explanation
II. A - Brief Description Of What The Measure Does That Has Fiscal Impact
Significant provisions of the bill and any related workload or policy assumptions that have revenue or expenditure impact on the responding agency by
section number.
See attached fiscal note
II. B - Cash receipts Impact
Cash receipts impact of the legislation on the responding agency with the cash receipts provisions identified by section number and when appropriate, the
detail of the revenue sources. Description of the factual basis of the assumptions and the method by which the cash receipts impact is derived. Explanation
of how workload assumptions translate into estimates. Distinguished between one time and ongoing functions.
See attached fiscal note
II. C - Expenditures
Agency expenditures necessary to implement this legislation (or savings resulting from this legislation), with the provisions of the legislation that result in
the expenditures (or savings) identified by section number. Description of the factual basis of the assumptions and the method by which the expenditure
impact is derived. Explanation of how workload assumptions translate into cost estimates. Distinguished between one time and ongoing functions.
See attached fiscal note
Part III: Expenditure Detail
III. A - Operating Budget Expenditures
Account Account Title Type FY 2024 FY 2025 2023-25 2025-27 2027-29
026-1 Real Estate State 15,000 0 15,000 0 0
Commission Account
Total $ 15,000 0 15,000 0 0
III. B - Expenditures by Object Or Purpose
FY 2024 FY 2025 2023-25 2025-27 2027-29
FTE Staff Years
A-Salaries and Wages
B-Employee Benefits
C-Professional Service Contracts
E-Goods and Other Services 15,000 15,000
G-Travel
J-Capital Outlays
M-Inter Agency/Fund Transfers
N-Grants, Benefits & Client Services
P-Debt Service
S-Interagency Reimbursements
T-Intra-Agency Reimbursements
9-
Total $ 15,000 0 15,000 0 0
III. C - Operating FTE Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part I
and Part IIIA.
NONE
III. D - Expenditures By Program (optional)
NONE
Future listing contracts 240-Department of Licensing
Form FN (Rev 1/00) 179,439.00 Request # SB 5399-3
FNS063 Individual State Agency Fiscal Note 2 Bill # 5399 SB
Part IV: Capital Budget Impact
IV. A - Capital Budget Expenditures
NONE
IV. B - Expenditures by Object Or Purpose
NONE
IV. C - Capital Budget Breakout
Acquisition and construction costs not reflected elsewhere on the fiscal note and description of potential financing methods.
NONE
IV. D - Capital FTE Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part IVB.
NONE
Part V: New Rule Making Required
Provisions of the bill that require the agency to adopt new administrative rules or repeal/revise existing rules.
See attached fiscal note
Future listing contracts 240-Department of Licensing
Form FN (Rev 1/00) 179,439.00 Request # SB 5399-3
FNS063 Individual State Agency Fiscal Note 3 Bill # 5399 SB
Individual State Agency Fiscal Note
Agency 240 – Department of Licensing
Bill Number: SB 5399 Bill Title: Providing for future listing right purchase contracts
Part 1: Estimates
☐ No Fiscal Impact
Estimated Cash Receipts:
Revenue Fund FY 24 FY 25 23-25 Total 25-27 Total 27-29 Total
Real Estate Commission 026 15,000 - 15,000 - -
Account Totals 15,000 - 15,000 - -
Estimated Expenditures:
FY 24 FY 25 23-25 Total 25-27 Total 27-29 Total
FTE Staff Years - - - - -
Operating Expenditures Fund FY 24 FY 25 23-25 Total 25-27 Total 27-29 Total
Real Estate Commission 026 15,000 - 15,000 - -
Account Totals 15,000 - 15,000 - -
Check applicable boxes and follow corresponding instructions.
☒ If the fiscal impact is less than $50,000 per fiscal year in the current biennium or in subsequent
biennia, complete this page only (Part I).
☐ If fiscal impact is greater than $50,000 per fiscal year in the current biennium or in subsequent
biennia, complete entire fiscal note form Parts I-V.
☐ Capital budget impact, complete Part IV.
☒ Requires new rule making, complete Part V.
Legislative Contact: Steven Puvogel Phone: (360) 701-6459 Date:
Agency Preparation: Gina Rogers Phone: (360) 634-5036 Date: 1/23/23
Agency Approval: Gerrit Eades Phone: (360) 902-3931 Date:
Request # 1
Bill # 5399 SB
Page 1 of 4
Part 2 – Explanation
This bill allows for future listing right purchase contracts in real estate.
2.A – Brief Description Of What The Measure Does That Has Fiscal Impact
Sec. 1 – Amends RCW 18.86.010
• (8) “contract purchase price” means the money paid to the seller for entering into a future listing
right purchase contract
• (10) “future listing right purchase contract” means a contractual right to obligating a seller to
enter into a real estate listing agreement with a purchasing company in the future
o Related to sales of residential homes, townhomes, or condos
• (13) “purchase date” means the date when the contract purchase price is transferred to the
seller by the company
• (14) “purchasing company” means a person/entity that enters into a future listing right purchase
contract
Sec. 2 – Amends RCW 18.86.070
• (2) limits future listing right purchase contract terms to 5 years from the purchase date
Sec. 3 – Adds a new section to chapter 18.86 RCW
• Allows future listing right purchase contracts to act as a lien on the property it’s related to
o All liens must take priority except to a financing, refinancing, or home equity line of
credit the seller seeks after the effective date of the future listing right purchase contract
Sec. 4 – New Section
• Provides an immediate effective date
2.B - Cash receipts Impact
Revenue Fund FY 24 FY 25 23-25 Total 25-27 Total 27-29 Total
Real Estate Commission 026 15,000 - 15,000 - -
Account Totals 15,000 - 15,000 - -
2.C – Expenditures
Operating Expenditures Fund FY 24 FY 25 23-25 Total 25-27 Total 27-29 Total
Real Estate Commission 026 15,000 - 15,000 - -
Account Totals 15,000 - 15,000 - -
Information Services will Implement:
• Update system ordinance records to align with state laws and rules.
• Update Real Estate Audit checklist.
Page 2 of 4
Cost Category Description Rate 2024 2025 2026 2027 2028 2029 Total Cost
Test to verify individual components meet
TESTER requirements; ensure that other business transactions $ 22,620 2,300 - - - - - 2,300
have not been impacted.
Determine business requirements; translate
requirements into what changes are needed to various
BUSINESS ANALYST $ 16,530 1,700 - - - - - 1,700
systems including account codes, inventory codes,
testing considerations, etc.
PROJECT MANAGER Manage schedule and contracts $ 28,710 2,900 - - - - - 2,900
Create the conceptual model that defines the
structure, behavior and framework of a computerized
system including a breakdown of the system into
SECURITY AND
components, the component interactions and $ 16,530 1,700 - - - - - 1,700
ARCHITECT SERVICES
interfaces (including with the environment, especially
the user), and the technologies and resources to be
used in the design.
Trains business partners and employees in new system
Trainer $ 22,620 2,300 - - - - - 2,300
processes and capabilities.
Office of the Chief Information Officer designated rate
Project Contingency $ 25,474 1,100 - - - - - 1,100
of 10%
Totals 12,000 - - - - - 12,000
Assumptions:
• All violations related to an Inspection/Audit will report on existing audit result letters
• No new letters or reports
Project Duration: 1 month
Effective Date: Immediate effective date
The system changes identified above impact an existing Commercial Off the Shelf (COTS) product and
require modifications by the vendor. The design, development and configuration services are estimated
to cost $2,800.
Information Services:
The agency will use appropriated funds to hire contract programmers to accomplish this work or to
support current staff implementing this legislation within the required timeline. Appropriated funds may
also be used to hire agency temporary staff to support permanent staff assigned to this legislative effort.
Any change requires a process to ensure changes are correctly applied to the system. This involves
Project Managers that manage the team that completes the update, business analyst that documents
and reviews the system changes, architect services that analyzes how the update could have an effect
on other systems or DOL processes, developers who create the change, and testers and quality
assurance teams that ensure the update is working correctly.
Support Services:
Agency Administrative Overhead is included at a rate of 23.4 percent of the direct program costs. This
funding received covers agency-wide functions such as vendor payments, contract administration,
financial management, mail processing, equipment management, help desk support, and technical
assistance to DOL employees.
Page 3 of 4
Part 3 – Expenditure Detail
3.A – Operating Budget Expenditures
Operating Expenditures Fund FY 24 FY 25 23-25 Total 25-27 Total 27-29 Total
Real Estate Commission 026 15,000 - 15,000 - -
Account Totals 15,000 - 15,000 - -
3.B – Expenditures by Object or Purpose
Object of Expenditure FY 24 FY 25 23-25 Total 25-27 Total 27-29 Total
Goods and Services 15,000 - 15,000 - -
Total By Object Type 15,000 - 15,000 - -
3.C – FTE Detail
None.
Part 4 – Capital Budget Impact
None.
Part 5 – New Rule Making Required
To implement this legislation, a one-time assessment would need to be added to licenses that are
funded with dedicated funds, equal to the costs contained in the expenditure section of this fiscal note.
The cost allocation model applied to current expenditures is used to establish the revenue breakdown.
For efficiency purposes, the department will add inclusion of this one-time assessment per license, to a
planned fee rulemaking process in the spring of 2024, with any fee proposed increases to go into effect
in June 2024.
Page 4 of 4
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