(1) There is hereby created and established in the State Treasury the real estate education, research, and recovery fund.
(2) In addition to the license fees provided for in KRS 324.287, upon renewal of every broker's and sales associate's license, as well as any and all other types of licenses, if any, issued by the commission, as of June 30, 1972, and every regular biennial renewal date thereafter, the commission shall charge each of the aforesaid licensees an amount not to exceed sixty dollars ($60) per year to be included in the real estate education, research, and recovery fund. Each and every original applicant for a license after July 1, 1972, shall likewise submit to the commission an additional fee not to exceed sixty dollars ($60) to be deposited in the real estate education, research, and recovery fund and shall also be subjected thereafter to a biennial renewal fee as of the regular renewal period.