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Federal Legislation & Regulatory

 

 

117th CONGRESS APPRAISAL LEGISLATION

(Updated 9/21/22)

 

H.R. 5756: The Portal for Appraisal Credentialing Act 

  • Establishes a “cloud-based” nationwide licensing system for state appraiser certification/licensing, along the lines of regulatory structures in other industries, such as insurance and mortgage origination, recently enacted by Congress. 
  • Works with state appraiser regulatory agencies to utilize the platform for license management and establish consistent license application and renewal procedures for -
    • Continuing education renewal time periods for certified and licensed appraisers.
    • Conducting a common background check for states that require one.
  • Works with state appraiser regulatory agencies, professional appraisal organizations and other stakeholders in establishing and maintaining the system.

Sponsor: Rep. Ed Perlmutter (D-CO), Rep. David Kustoff (R-TN)

Appraisal Institute position: Support

 

H.R. 2553: The Real Estate Valuation Fairness and Improvement Act

To establish an interagency Task Force to analyze Federal collateral underwriting standards and guidance, and for other purposes.

Sponsor: Rep. Emanuel Cleaver (D-MO)

Appraisal Institute position: Support

 

S. 641: The Landowner Fairness Act

A bill to amend the Natural Gas Act to require the Federal Energy Regulatory Commission to consider certain factors in issuing certificates of public convenience and necessity under that Act, to modify the requirements for the right to exercise eminent domain in construction of pipelines under that Act, to provide that the right of eminent domain may not be exercised under that Act for projects for the exportation of natural gas, and for other purposes.

Sponsor: Sen. Ron Wyden (D-OR)

Appraisal Institute position: Support

 

S. 4864: The Pipeline Fairness, Transparency, and Responsible Development Act 

The bill will help ensure fair appraisals and offers of compensation for affected property owners by giving landowners the opportunity to accompany appraisers during the inspection of property in order to provide more oversight over the appraisal process, which must be completed prior to an offer of compensation for that property. That offer of compensation must be of fair market value or better

Sponsor: Sen. Tim Kaine (D-VA), Sen. Mark Warner (D-VA)

Appraisal Institute position: Support

 

H.R. 4155: The Green Neighborhoods Act

To encourage energy efficiency, conservation, and development of renewable energy sources for housing, and to create sustainable communities.

Sponsor: Rep. Ed Perlmutter (D-CO)

Appraisal Institute position: Support

 

H.R. 3008: The Homebuyer Assistance Act

To amend the National Housing Act to authorize State-licensed appraisers to conduct appraisals in connection with mortgages insured by the FHA and to require compliance with the existing appraiser education requirement, and for other purposes.

Sponsor: Rep. Brad Sherman (D-CA)

Appraisal Institute position: Support

 

S. 2256/H.R. 4164:  The Charitable Conservation Easement Program Integrity Act

The legislation imposes a limitation on the tax deduction for qualified conservation contributions made by certain partnerships if the amount of the contribution exceeds 2.5% times the sum of each partner's relevant basis in the partnership. This limitation also applies to other pass-thru entities, such as S corporations.

Sponsor: Senate: Sen. Steve Daines (R-MT). House: Rep. Mike Thompson (D-CA), Rep. Mike Kelly (R-PA)

Appraisal Institute position: Support

 

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