PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Mar 11, 2024
Appraisal Industry Improvement Act
This bill revises the federal regulation of real estate appraisers by expanding eligibility criteria to perform appraisals, specifying training requirements, and providing for grants. The Federal Financial Institutions Examination Council’s Appraisal Subcommittee oversees state licensing and certification of appraisers and maintains a registry of appraisers eligible to perform appraisals tied to mortgages involving federally backed programs, federally insured banks, or government sponsored enterprises.
The bill allows federal employees who are certified or licensed as an appraiser to perform appraisals in states and territories other than the state or territory in which they are certified or licensed. The bill also provides requirements for qualifying education for appraisers.
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The bill expands the national appraiser registry to include trainees with state credentials.
The bill allows the Appraisal Subcommittee to make grants to state appraiser certifying and licensing agencies for the purpose of addressing appraiser workforce needs. The bill also adds representation on the subcommittee from the Department of Veterans Affairs, the Rural Housing Service of the Department of Agriculture, and the Department of Housing and Urban Development.
People & committees
Sen. Tester, Jon [D-MT] · D–MT
Legislative record
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 14, 2025. Consult Congress.gov for the current record.
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