Real Estate License Fee

(a) Any law to the contrary notwithstanding, effective January 1, 1995, an annual business license fee of twenty-nine dollars ($29) is imposed on all corporations, firms, brokers, agents, and other persons or entities engaged in Shelby County in the business of buying, selling, managing, leasing, or renting of real estate on commission in Shelby County. The license fee shall be paid annually, at the same time as the license fee imposed under Section 40–12–149, is paid and shall be remitted to the License Commissioner of Shelby County on forms developed by the commissioner. (b) After subtracting two dollars ($2) from each license as an administrative fee, the License Commissioner of Shelby County shall distribute the proceeds from the license fees collected pursuant to this section to each city and municipality in Shelby County on a pro rata basis according to population. (Act 94–666, p. 1278, §§ 1, 2.)