REAL ESTATE APPRAISERS:  LICENSURE REVISIONS

Senate Bill 1016

Sponsor:  Sen. Tom George

House Committee:  Regulatory Reform

Senate Committee:  Economic Development, Small Business and Regulatory Reform

Complete to 6-26-06

A SUMMARY OF SENATE BILL 1016 AS PASSED BY THE SENATE 6-8-06

The bill would amend Article 26 of the Occupational Code, entitled "Real Estate Appraisers," to replace current educational, experience, and examination requirements for licensure as a real estate appraiser with criteria established by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation.

The bill would repeal several sections of the code that list the licensing requirements for limited real estate appraisers, real estate appraisers, certified residential real estate appraisers, and certified general real estate appraisers, and the experience requirements for applicants.  Applicants for licensure would have to be at least 18 years of age, of good moral character, and provide proof of having completed the minimum education, examination, and experience requirements contained in the AQB criteria for the appropriate license category.

Under the bill, the Department of Labor and Economic Growth would have to use criteria established by the AQB regarding the education, examination, and experience needed for licensure under Article 26, though the department could adopt, by departmental rule, a stricter standard that was otherwise in compliance with the minimum AQB criteria in effect at the time.  The bill would also delete the requirements under Article 26 for prelicensure educational courses and continuing education courses and replace it with a requirement that educational courses comply with AQB criteria.  Similarly, the appraisal log that applicants for licensure must provide would now have to include documentation or data required under the AQB criteria.

Furthermore, the bill would decrease, from three years to two years, the time that a score on the uniform real property appraiser examination would be valid.

MCL 339.2601 et al.

FISCAL IMPACT:

There is no fiscal impact on the State of Michigan, or its local units of government.

                                                                                           Legislative Analyst:   Susan Stutzky

                                                                                                   Fiscal Analyst:   Richard Child

■ This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.