(

a) The commissioner may periodically by regulation prescribe fees lower than the maximum fees provided in Sections 10209.5, 10210, 10214.5, 10215, and 10250.3 whenever they determine those lower fees are sufficient to offset the costs and expenses incurred in the administration of

Part 1 (commencing with

Section 10000) of this division. The commissioner shall hold at least one regulation hearing each calendar year, to determine if lower fees should be prescribed. At this hearing, the department shall report on the financial status of the department, including the revenues, expenditures, and reserves as of the end of the previous fiscal year. The department shall post a hearing notice days in advance of the hearing that includes the required information about the financial status of the department. (

b) If, as of June of any fiscal year, the balance of funds in the Real Estate Fund exceeds an amount equal to percent of the department’s authorized budget for the following year, then within days thereafter the commissioner shall, notwithstanding the Administrative Procedure Act (Chapter 3.5 (commencing with

Section 11340) of Part of Division of Title of the Government Code), issue regulations reducing real estate license and subdivision fees so that as of June of the next fiscal year the balance of funds in the Real Estate Fund shall not exceed an amount equal to percent of the department’s authorized budget for that year. (

c) If the commissioner fails to reduce these fees within the timeframe specified in subdivision (b), then fees shall automatically be reduced to the levels as indicated in subdivision (

b) of

Section 10226.5. That reduction shall be effective no later than September of the fiscal year wherein the commissioner is obliged to issue regulations pursuant to subdivision (b).