Securities Agents Fee
Budget paper 305 concerns fees for securities agents and investment advisers. The governor has proposed raising the fee from $30 to $60 for the initial license and annual renewals. Program revenue from the increase is estimated at $3 million annually.
Co-chair Rep. Kitty Rhoades moves for a vote on alternative 3 of the budget paper, which would eliminate the fee increase.
Sen. Luther Olsen says the governor's proposal is an example of the fee transfers in the budget. Co-chair Sen. Russ Decker says fee transfers have been going on for as long as he's been in the Legislature, and the state's "gotta pay the bills."
Initially, Rhoades motion passes 8-7-1, but the absent member, Sen. Bob Jauch, walked in just as the roll call was being completed. They record Jauch's vote as no, and the motion is defeated 8-8. The governor's proposal passes.
