Appraiser Board Issues Proposed Regulatory Changes
By Jennifer Shockley
The State Board of Certified Real Estate Appraisers has released its long-awaited package of regulatory revisions for public comment. Many of these changes are federally mandated requirements from the Appraiser Qualifications Board (AQB) which the state is obligated to implement.
The proposed regulatory changes are all-encompassing and address numerous issues. They:
implement new federally mandated education criteria for the initial certification of residential real estate appraisers and general real estate appraisers that will take effect in January 2008
revise current board requirements to conform to existing federal criteria regarding distance education and appraisal teaching experience
clarify the manner in which applicants for certification as residential and general appraisers may obtain qualifying experience in the preparation of appraisal reports
clarify the duties of residential and general appraisers when supervising the activities of appraisal assistants
upgrade the continuing education requirement for certified PA evaluators (CPE) and
make editorial and organizational amendments to the regulations to improve clarity and comprehension.
PAR has monitored the progress of these regulations for many years and provided favorable comments to the board. The regulatory process requires that once a regulation is introduced in proposed format, it must endure a 30-day public comment period, a review by the House and Senate Professional Licensure Committees and review by the Independent Regulatory Review Commission (IRRC).
Once the board receives comments from these bodies, it must consider all comments and make revisions. Then the revised regulation is re-submitted to the House, Senate and IRRC for final approval. From proposed regulation to final version, the process cannot take more than two years. After that deadline, the regulation is automatically rejected and the process must start from the beginning.