REAL ESTATE APPRAISERS: LICENSE S.B. 1016 (S-1): FLOOR ANALYSIS
Senate Bill 1016 (Substitute S-1 as reported)
Sponsor: Senator Tom George
Committee: Economic Development, Small Business and Regulatory Reform
CONTENT
The bill would amend Article 26 (Real Estate Appraisers) of the Occupational Code to do the following:
-- Require the Department of Labor and Economic Growth to use criteria established by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation regarding the education, examination, and experience needed for licensure under Article 26.
-- Replace the requirements under Article 26 for educational courses and an appraisal log with AQB criteria.
-- Provide that a score on the uniform real property appraiser examination would be valid for two years, instead of three.
The bill also would repeal Sections 2611, 2613, 2614, 2615, and 2621 of the Code. The sections 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.
MCL 339.2601 et al. Legislative Analyst: J.P. Finet
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 6-5-06 Fiscal Analyst: Elizabeth Pratt
Maria Tyszkiewicz
floor\sb1016 Analysis available @ http://www.michiganlegislature.org
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. 1016/0506