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SPONSOR: |
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DATE TYPED: |
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HB |
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SHORT TITLE: |
Real Estate Appraisers Registration |
SB |
562 |
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ANALYST: |
Gilbert |
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REVENUE
Estimated Revenue |
Subsequent Years Impact |
Recurring or
Non-Rec |
Fund Affected |
|
FY03 |
FY04 |
|
|
|
|
$0.1
See Narrative |
$0.1
See Narrative |
Recurring |
Real
Estate Commission Fund, Real Estate Recovery
Fund |
(Parenthesis ( ) Indicate Revenue Decreases)
LFC Files
SUMMARY
Synopsis
of Bill
Senate Bill 562 amends
the Real Estate Appraisers Act to clarify the title of entry-level appraisers. The definition for “registered real estate
appraiser” was misleading, thus it was replaced with “apprentice real-estate
appraiser”.
This bill also amends
the Act to make it unlawful for a person to engage in the business of or act in
the capacity of a state apprentice real estate appraiser, state licensed real
estate appraiser, or state certified real estate appraiser without a license
issued by the board
This bill also strikes
specific language pertaining to experience and educational requirements for
appraisers and replaces it with language requiring experience and education
requirements as established by the Appraiser Qualifications Board of the
Appraisal Foundation and as adopted by rule pursuant to the Real Estate
Appraisers Act.
SB 562 increases
reinstatement fees for expired appraiser registrations from $100 to an amount
not to exceed $200.
The board
shall charge fees for registration and collect the following increased fees as
outlined below, but not to exceed:
A. an
application fee for a registration, [in the amount of one hundred dollars
($100)] two hundred dollars ($200);
B. an
application fee for a license or residential certification, [in the amount
of two hundred dollars ($200)] four hundred dollars ($400);
C. an
application fee for general certification, [in the amount of two hundred
fifty dollars ($250)] five hundred dollars ($500);
D. an examination
fee for general and residential certification or license, [in the amount of
one hundred dollars ($100)] two hundred dollars ($200);
E. a [triennial]
registration renewal fee, [in the amount of one hundred fifty dollars ($150)]
two hundred fifty dollars ($250);
F. a [triennial]
certificate renewal fee for residential certification, or license renewal, [in
the amount of three hundred dollars ($300)] four hundred fifty dollars
($450);
G. a [triennial]
certificate renewal fee for general certification, [in the amount of four
hundred fifty dollars ($450)] five hundred dollars ($500);
H. the registry
fee as required by the federal real estate appraisal reform amendments;
the
amount of one hundred dollars ($100)] two hundred dollars ($200);
J. for each
duplicate registration, license or certificate issued because a registration, license
or certificate is lost or destroyed and an affidavit as to its loss or destruction
is made and filed, [a fee in the amount of twenty-five dollars ($25.00)]
fifty dollars ($50.00); and
The fine for violation of the Act is raised from
$500 to not more than $1000.
This bill also amends the Act to allow the board
to impose a civil penalty in an amount not to exceed $1,000 for each violation
of the Real Estate Appraisers Act and assess administrative costs for any
investigation and administrative or other proceedings against a state
apprentice real estate appraiser, state licensed real estate appraiser or state
certified real estate appraiser or against any person who is found, through an
administrative proceeding, to have acted without a license.
FISCAL IMPLICATIONS
If adopted, this bill may result in additional
revenue since the board may access higher fees as outlined above.
ADMINISTRATIVE IMPLICATIONS
The Real Estate Commission may experience a
staff workload increase upon adoption of this bill.