,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ideb  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,septemb] #c1         
#bjbd,mr4 ,posey introduc$ ! foll[+     
bill2 :i* 0 ref]r$ to ! ,committee on ! 
,judici>y  ,a ,,bill  ,to provide       
antitru/ exemptions = ,/ate lic5s$ real 
e/ate brok]s or _! salesp]sons or any   
trade association to :i* !y may belong  
regulat$ & lic5s$ by ,/ates4  #a4 ,%ort 
title ,?is ,act may be cit$ z ,common   
,s5se ,real ,e/ate ,consum] ,rights     
,protection ,act ( #bjbd4  #b4          
,decl>ation ( policy ,congress h]eby    
decl>es t ! cont9u$ regulation &        
taxation by ! sev]al ,/ates ( ! bus9ess 
( repres5t+ buy]s & sell]s 9 ! real     
e/ate transactions commonly und]/ood &  
regulat$ & lic5s$ by ,/ates z ! bus9ess 
( ,/ate lic5s$ real e/ate brok]s or _!  
salesp]sons or any trade association to 
:i* !y may belong is 9 ! public int]e/1 
& t sil5ce on ! "p ( ! ,congress %all n 
be con/ru$ to impose any b>ri] to !     
regulation or taxation ( su* bus9ess by 

! sev]al ,/ates4 ,all prior laws1 rules1
 or settlem5ts relat+ to real e/ate     
brok]s are null & void ^u passage ( ?is 
bill4  #c4 ,regulation by ,/ate law2    
,f$]al law relat+ specifically to sell+ 
& buy+ ( real prop]ty  7a7 ,/ate        
regulation ,! bus9ess ( repres5t+ buy]s 
& sell]s 9 ! real e/ate transactions    
commonly und]/ood & regulat$ & lic5s$ by
 ,/ates z ! bus9ess ( ,/ate lic5s$ real 
e/ate brok]s or _! salesp]sons or any   
trade association to :i* !y may belong1 
& e p]son engag$ !re91 %all be subject  
to ! laws ( ! sev]al ,/ates :i* relate  
to ! regulation or taxation ( su*       
bus9ess4  7b7 ,f$]al regulation ,no ,act
 ( ,congress %all be con/ru$ to         
invalidate1 impair1 or sup]s$e any law  
enact$ by any ,/ate = ! purpose (       
regulat+ ! bus9ess ( repres5t+ buy]s &  
sell]s 9 ! real e/ate transactions      
commonly und]/ood & regulat$ & lic5s$ by
 ,/ates z ! bus9ess ( ,/ate lic5s$ real 
e/ate brok]s or _! salesp]sons or any   
trade association to :i* !y may belong1 

or :i* imposes a fee or tax ^u su*      
bus9ess1 unless su* ,act specifically   
relates to ! bus9ess ( commonly regulat$
 & lic5s$ by ,/ates z ! pr(ession (     
,/ate lic5s$ real e/ate brok]s or _!    
salesp]sons or any trade association to 
:i* !y may belong3 ,provid$1 ,t aft] !  
date ( enactm5t ( ?is ,act1 ! ,act (    
,july #b1 #ahij1 z am5d$1 kn[n z !      
,%]man ,act1 z am5d$1 & ! ,act ( ,octob]
 #ae1 #aiad1 z am5d$1 kn[n z ! ,clayton 
,act1 & ! ,act ( ,septemb] #bf1 #aiad1  
kn[n z ! ,f$]al ,trade ,commission ,act1
 z am5d$ 7#ae ,u4,s4,c4 #da et seq471   
%all be applicable to ! bus9ess (       
repres5t+ buy]s & sell]s 9 ! real e/ate 
transactions commonly und]/ood &        
regulat$ & lic5s$ by /ates z ! bus9ess (
 ,/ate lic5s$ real e/ate brok]s or _!   
salesp]sons or any trade association to 
:i* !y may belong to ! ext5t t su*      
bus9ess is n regulat$ by ,/ate law4