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                                             F I S C A L   I M P A C T   R E P O R T                     

 

 

 

SPONSOR:

Campos

 

DATE TYPED:

03/06/03

 

HB

 

 

SHORT TITLE:

Real Estate Appraisers Registration

 

SB

562

 

 

ANALYST:

Gilbert

 

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)

 

SOURCES OF INFORMATION

 

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;

I. for registration for temporary practice, [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.

 

RLG/prr