Governor Doyle Signs AB 783, Which Makes Changes to Real Estate Law
Governor Doyle Signs AB 783, Which Makes Changes to Real Estate Law
Also Signs SB 426 Relating to Changes in Unemployment Insurance Law
Governor Jim Doyle today signed Assembly Bill 783, which makes numerous changes to existing real estate law as it relates to brokers and salespeople.
AB 783 is the largest revision of Wisconsin's real estate law in the last decade. It simplifies the language that explains the roles of each party in order to reduce consumer confusion. It also brings current law into line with the actual practice of real estate brokerage while maintaining important consumer protections.
"Wisconsin realtors are a pivotal part of the economy of our state, helping to protect and enhance the quality of life for all of Wisconsin," Governor Doyle said. "AB 783 is a great step toward ensuring that the real estate industry continues to thrive and continues to help the people of Wisconsin achieve the American Dream - owning a home."
Governor Doyle thanked Senators Cathy Stepp and Judy Robson and Representatives Steve Wieckert and Jim Kreuser for their work on AB 783.
Governor Doyle also signed Senate Bill 426 which makes changes to the Unemployment Insurance Law. SB 426 is based on the recommendation of the Unemployment Insurance Advisory Council. The bill makes important changes that include increasing the maximum unemployment insurance weekly benefit rate to by $12 to $341 in 2006 and $14 to $355 in 2007 and funding a half-time position in the Department of Justice for benefit and tax fraud prosecution.
In addition, SB 426 incorporates federal law which requires all states to adopt, by January 1, 2006, legislation designed to prevent employers from structuring business transfers for the primary purpose of shedding high unemployment insurance tax rates.
Governor Doyle thanked Senator Dave Zien and Representative Steve Wieckert for their leadership on this issue.
http://www.wisgov.state.wi.us/journal_media_detail.asp?locid=19&prid=1616