1. Four classes of licenses may be issued under this chapter, which must be designated as class A, B, C, and D licenses. A holder of a license may engage in the contracting business within this state subject to the following limitations: a. The holder of a class A license is subject to no limitation as to the value of any single contract project. b. The holder of a class B license is not entitled to engage in the construction of any single contract project of a value in excess of five hundred thousand dollars. c. The holder of a class C license is not entitled to engage in the construction of any single contract project of a value in excess of three hundred thousand dollars. d. The holder of a class D license is not entitled to engage in the construction of any single contract project of a value in excess of one hundred thousand dollars. 2. If applying for a license as described and required in this chapter, the applicant shall pay to the registrar the following fees: a. For a class A license, the sum of four hundred fifty dollars. b. For a class B license, the sum of three hundred dollars. c. For a class C license, the sum of two hundred twenty-five dollars. d. For a class D license, the sum of one hundred dollars. 3. For a renewal of a license, the licensee shall pay to the registrar the following fees: a. For a class A license, the sum of ninety dollars. b. For a class B license, the sum of sixty dollars. c. For a class C license, the sum of forty-five dollars. d. For a class D license, the sum of thirty dollars. 4. Twenty-five percent of all moneys collected by the registrar under this chapter must be deposited in the secretary of state's general services operating fund to pay the cost to administer this chapter and the balance of the moneys collected must be deposited with the state treasurer, who shall credit that amount to the general fund of the state. 5. A nonprofit entity that is constructing or rehabilitating a single -family dwelling that will be given to or sold below the appraised value to a low -income person, may not be charged a fee by the secretary of state for a license or renewal of license as described and required under this chapter.
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