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79R4494 YDB-D

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79R4494 YDB-D ...

79R4494 YDB-D

By: Staples S.B. No. 381

    A BILL TO BE ENTITLED

    AN ACT

    relating to the regulation of real estate appraisers.

    BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

    SECTION 1. Section 1103.003, Occupations Code, is amended by

    adding Subdivisions (2-a), (6-a), and (6-b) to read as follows:

     (2-a) "Appraisal Standards Board" means the Appraisal

    Standards Board of the Appraisal Foundation, or its successor.

     (6-a) "Federally related transaction" means a real estate

    related transaction that:

     (A) requires the services of an appraiser; and

     (B) is engaged in, contracted for, or regulated by

    a federal financial institution regulatory agency.

     (6-b) "Federal financial institution regulatory agency"

    means:

     (A) the Board of Governors of the Federal Reserve

    System;

     (B) the Federal Deposit Insurance Corporation;

     (C) the Office of the Comptroller of the Currency;

     (D) the Office of Thrift Supervision;

     (E) the National Credit Union Administration; or

     (F) the successors of any of those agencies.

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     S.B. No. 381

    SECTION 2. Section 1103.151, Occupations Code, is amended to

    read as follows:

    Sec. 1103.151. RULES RELATING TO CERTIFICATES AND LICENSES.

     The board may adopt:

     (1) rules for certifying or licensing an appraiser or

    approving an appraiser trainee in this state that are in accordance

    with this chapter and consistent with[, but not more stringent than,]

    applicable federal law;

     (2) rules relating to the education and experience

    required for certifying or licensing an appraiser or approving an

    appraiser trainee that are consistent with[, but not more stringent than,] the guidelines recognized by the Appraiser Qualifications

    Board [Appraisal Subcommittee];

     (3) rules relating to the examination required by

    Subchapter F; and

     (4) rules relating to procedures for the timely renewal

    of a certificate or license.

    SECTION 3. Section 1103.152, Occupations Code, is amended to

    read as follows:

    Sec. 1103.152. APPRAISER CERTIFICATE AND LICENSE CATEGORIES.

     [(a) In this section, "Appraisal Standards Board" means the

    Appraisal Standards Board of the Appraisal Foundation, or its

    successor.

    [(b)] The board may:

     (1) establish certificate and license categories that

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     S.B. No. 381

    are consistent with the categories recognized by the Appraiser

    Qualifications Board[, the Appraisal Standards Board, and the

    Appraisal Subcommittee]; and

     (2) prescribe qualifications for each category that are

    consistent with [not more stringent than] the qualifications established for that category by the Appraiser Qualifications Board[,

    the Appraisal Standards Board, and the Appraisal Subcommittee].

    SECTION 4. Section 1103.153, Occupations Code, is amended to

    read as follows:

    Sec. 1103.153. RULES RELATING TO CONTINUING EDUCATION. The

    board may adopt rules relating to continuing education requirements

    for a certified or licensed appraiser or an approved appraiser

    trainee.

    SECTION 5. Section 1103.154, Occupations Code, is amended to

    read as follows:

    Sec. 1103.154. RULES RELATING TO PROFESSIONAL CONDUCT. The

    board may adopt:

     (1) rules as necessary to conform to the minimum written

    standards of the Appraisal Standards Board [Subcommittee] by

    incorporating the Uniform Standards of Professional Appraisal

    Practice;

     (2) rules requiring a certified or licensed appraiser

    to comply with standards of competency, professional conduct, and

    ethics [generally accepted by the Appraisal Subcommittee and]

    prescribed by the Uniform Standards of Professional Appraisal

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     S.B. No. 381

    Practice, as adopted by the Appraisal Standards Board [Foundation];

    and

     (3) rules relating to the standards for the development

    of an appraisal and the conveyance of an appraisal report by a

    certified or licensed appraiser that are consistent with the Uniform

    Standards of Professional Appraisal Practice.

    SECTION 6. Section 1103.202, Occupations Code, is amended to

    read as follows:

    Sec. 1103.202. ELIGIBILITY REQUIREMENTS FOR CERTIFICATE. To

    be eligible for a certificate under this chapter, an applicant must:

     (1) pass the examination required by Subchapter F;

     (2) successfully complete the number and type of

    classroom hours or other educational qualifications required by the

    Appraiser Qualifications Board [guidelines of the Appraisal

    Subcommittee];

     (3) provide evidence satisfactory to the board that the

    applicant has at least the minimum number of hours of experience

    in performing appraisals over the specified number of calendar years

    as required by the Appraiser Qualifications Board [guidelines of

    the Appraisal Subcommittee]; and

     (4) satisfy the board as to the applicant's honesty,

    trustworthiness, and integrity.

    SECTION 7. Section 1103.203, Occupations Code, is amended to

    read as follows:

    Sec. 1103.203. ELIGIBILITY REQUIREMENTS FOR LICENSE. To be

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     S.B. No. 381

    eligible for a license under this chapter, an applicant must:

     (1) pass the examination required by Subchapter F;

     (2) successfully complete the number and type of [at least

    75] classroom hours or other educational qualifications required

    by the guidelines of the Appraiser Qualifications Board [in subjects

    determined by the board to be related to real estate appraisal, including at least 15 classroom hours covering the Uniform Standards

    of Professional Appraisal Practice];

     (3) provide evidence satisfactory to the board that the

    applicant has at least the minimum number of hours of experience

    in performing appraisals over the specified number of calendar years

    as required by the guidelines of the Appraiser Qualifications Board

    [the equivalent of 2,000 hours of experience in performing

    appraisals]; and

     (4) satisfy the board as to the applicant's honesty,

    trustworthiness, and integrity.

    SECTION 8. Section 1103.204(c), Occupations Code, is amended

    to read as follows:

    (c) The board shall give an applicant for a certificate or

    license credit toward fulfilling the requirements of Sections

    1103.202(2) and 1103.203(2) for classroom hours taken in the course

    of becoming licensed as a real estate broker or salesperson or for

    professional development or continuing education courses taken,

    whether the classroom hours or courses are taken by a person as a

    real estate broker or salesperson or as an employee of a financial

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     S.B. No. 381

    institution engaged in real estate-related financial transactions,

    if the classroom hours or courses satisfy the requirements

    established by the guidelines recognized by the Appraiser

    Qualifications Board [Appraisal Subcommittee].

    SECTION 9. Sections 1103.205(b) and (c), Occupations Code,

    are amended to read as follows:

    (b) An applicant for a certificate or license must provide

    an affidavit on a form prescribed by the board stating that the

    applicant has the required number of hours of experience in performing

    appraisals as [established by the guidelines] recognized by the

    Appraiser Qualifications Board [Appraisal Subcommittee].

    (c) For the purpose of determining the qualifications of an

    applicant for a certificate or license under this chapter, acceptable

    appraisal experience includes:

     (1) any one or any combination of the categories

    recognized by the Appraiser Qualifications Board [guidelines of the

    Appraisal Subcommittee]; and

     (2) experience as a real estate lending officer of a

    financial institution or as a real estate broker that includes the

    actual performance or technical review of real estate appraisals.

    SECTION 10. Sections 1103.209(a), (c), and (d), Occupations

    Code, are amended to read as follows:

    (a) The board may issue a certificate or license under terms

    adopted by the board to an applicant who is certified or licensed

    under the laws of another state having certification or licensing

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     S.B. No. 381

    requirements that the board determines have not been disapproved

    by the Appraisal Subcommittee. The terms must comply with the minimum

    criteria for obtaining a certificate or license recognized by the

    Appraiser Qualifications Board [Appraisal Subcommittee].

    (c) The application form submitted for a reciprocal

    certificate or license under this section must be comparable to the

    form required of a resident of this state applying for a similar

    certificate or license [by the state in which the appraiser is certified or licensed].

    (d) The fee charged to an appraiser from another state for

    a reciprocal certificate or license under this section must be

    comparable to the fee required of a resident of this state applying

    for a similar certificate or license [by the state in which the

    appraiser is certified or licensed]. A person who obtains a certificate or license by reciprocity under this section must pay

    the federal registry fee and any other fee the board imposes.

    SECTION 11. Sections 1103.211(b) and (c), Occupations Code,

    are amended to read as follows:

    (b) A person may renew a certificate or license by:

     (1) paying the renewal fee; and

     (2) providing evidence satisfactory to the board that

    the person has completed continuing education requirements that

    comply with the guidelines recognized by the Appraiser Qualifications

    Board [Appraisal Subcommittee] and that are imposed by rule under this chapter.

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     S.B. No. 381

    (c) For purposes of Subsection (b)(2), the board shall accept

    as continuing education any educational offering that complies with

    the guidelines recognized by the Appraiser Qualifications Board

    [Appraisal Subcommittee] that a certified or licensed appraiser was awarded by a national appraiser organization approved by the board

    as a provider of qualifying appraisal education.

    SECTION 12. Section 1103.251(b), Occupations Code, is amended

    to read as follows:

    (b) The examination must be:

     (1) written; and

     (2) approved by the [Appraisal Foundation; and

     [(3) consistent with, but not more stringent than, the

    Uniform State Certification/Licensing Examination guidelines

    endorsed by the] Appraiser Qualifications Board.

    SECTION 13. Section 1103.254, Occupations Code, is amended

    to read as follows:

    Sec. 1103.254. EXAMINATION APPLICATION. (a) An application

    to take the examination must be on a form prescribed by the board.

    (b) An application is active for one year beginning on the

    date the application is initially accepted. If an applicant does

    not pass the examination before the first anniversary of the date

    of application, the applicant must submit a new application and pay

    the appropriate fees.

    SECTION 14. Section 1103.256, Occupations Code, is amended

    to read as follows:

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     S.B. No. 381

    Sec. 1103.256. MINIMUM PASSING GRADE REQUIRED. To pass the

    examination, an applicant for a certificate or license must achieve

    the minimum score required [or approved] by the Appraiser

    Qualifications Board[, whichever is lower].

    SECTION 15. Section 1103.257(c), Occupations Code, is amended

    to read as follows:

    (c) If requested in writing by a person who fails an examination,

    the board shall provide to the person an analysis of the person's

    performance on the examination. The request must be accompanied

    by a [notarized] statement identifying the person and a fee in an amount determined by the board. The board shall release the analysis

    directly to the person requesting the analysis.

    SECTION 16. Section 1103.258, Occupations Code, is amended

    to read as follows:

    Sec. 1103.258. REEXAMINATION. (a) An applicant who fails

    an examination may apply to retake the examination on payment of

    an additional examination fee.

    (b) An applicant who has not successfully completed the

    examination before the first anniversary of the date the application

    was initially accepted by the board must submit a new application

    and pay the required application fee. [The applicant must apply

    to retake the examination not later than the first anniversary of

    the date of the examination the applicant failed.]

    SECTION 17. Section 1103.303, Occupations Code, is amended

    to read as follows:

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     S.B. No. 381

    Sec. 1103.303. ELIGIBILITY REQUIREMENTS FOR REGISTRATION. A person is eligible to register with the board if:

     (1) the certification and licensing program under which the person is certified or licensed by another state has not been

    disapproved by the Appraisal Subcommittee; and

     (2) the person's appraisal business in this state does not exceed six months [60 days].

    SECTION 18. Section 1103.353, Occupations Code, is amended to read as follows:

    Sec. 1103.353. ELIGIBILITY REQUIREMENTS FOR APPRAISER TRAINEE.

     To be eligible for approval as an appraiser trainee, an applicant

    must:

     (1) be at least 18 years of age;

     (2) be a citizen of the United States or a lawfully admitted alien;

     (3) have been a resident of this state for the 60 days preceding the date the application is filed; [and]

     (4) satisfy the board as to the applicant's honesty, trustworthiness, and integrity; and

     (5) meet all other qualifications established by the board.

    SECTION 19. Sections 1103.354(a) and (b), Occupations Code, are amended to read as follows:

    (a) An appraiser trainee approved by the board may perform an appraisal under the direction of a sponsor or authorized supervisor

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