REAL ESTATE APPRAISERS - S.B. 513 (S-2) & 514 (S-1): FLOOR ANALYSIS
Senate Bill 513 (Substitute S-2 as reported)
Senate Bill 514 (Substitute S-1 as reported)
Sponsor: Senator Leon Stille
Committee: Local, Urban and State Affairs
CONTENT
Senate Bill 513 (S-2) would amend Article 26 (Real Estate Appraisers) of the Occupational Code to:
-- Establish requirements for the licensure of a "certified residential real estate appraiser".
-- Revise current education and experience licensure requirements that apply to a certified real estate appraiser and a real estate valuation specialist, and specify that these requirements would apply, instead, to a "certified general real estate appraiser" and a "limited real estate appraiser", respectively.
-- Revise the licensure requirements for a State licensed real estate appraiser.
-- Revise the membership of the Board of Real Estate Appraisers to include certified general and certified residential real estate appraisers.
-- Increase the number of continuing education hours required for license renewals.
-- Require every appraisal report to indicate the license number and level of licensure of the appraiser.
-- Specify that a sanction by another state or jurisdiction against an appraiser licensed in Michigan could be grounds for disciplinary action in this State if the offense were similar to a violation under the Code.
Senate Bill 514 (S-1) would amend the State License Fee Act to establish the following fees for a person licensed or seeking licensure as a certified residential real estate appraiser: $25 for application processing; $100 for examinations, if the Department of Consumer and Industry Services conducted its own examination; $100 for a yearly license; and, $125 for a temporary license.
The bills are tie-barred to each other.
MCL 339.2601 et al. (S.B. 513) - Legislative Analyst: L. Arasim
338.2202 et al. (S.B. 514)
FISCAL IMPACT
The bills would have no fiscal impact on State or local government.
Date Completed: 5-10-99 - Fiscal Analyst: M. TyszkiewiczFloor\sb513 - 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.