March 9, 2018
TO THE MISSISSIPPI HOUSE OF REPRESENTATIVES
I am returning House Bill 1476: “AN ACT TO AMEND SECTION 73-35-7, MISSISSIPPI CODE OF 1972, TO REVISE THE REQUIREMENTS TO BE GRANTED A REAL ESTATE BROKERS LICENSE; AND FOR RELATED PURPOSES.”
House Bill 1476 increases the requirements for a real estate salesperson to become a broker. This bill requires an individual to hold a license as an active real estate salesperson for thirty-six months, instead of the current twelve months, immediately prior to making application for the broker’s examination.
It is my policy, and the state’s policy, to increase economic opportunities by promoting competition and to use the least restrictive means necessary to protect consumers. This bill does not increase economic opportunities but rather serves as an over-burdensome law and a barrier to market entry for potential brokers. Further, this bill does not represent the least restrictive means necessary. Requiring two more years of experience will not necessarily guarantee that a real estate salesperson will be better prepared to become a broker. I believe there are mechanisms out there that can be more narrowly tailored to address the specific issue of better preparing future real estate brokers, if there is a present need to do so.
For these reasons, I am vetoing House Bill 1476.