SB 1181 Summary

• Increases the state board of appraisal from nine to nine members by changing the composition: increases certified appraiser positions from four to five members (two general appraisers and two residential appraisers instead of one each) and reduces public members from three to one.

• Adds a ninth board member who is either a real estate salesperson with a valid license or a representative of a registered appraisal management company who is not a licensed or certified appraiser.

• Authorizes the board to prescribe and collect fees by rule for licensure, certification, examinations, and renewals, replacing previous statutory fee caps; exempts the board from standard rule-making procedures until July 1, 2012 but requires public notice and 30-day comment period.

• Allows existing board members serving on the effective date to continue through their current terms; subsequent appointments must follow the new statutory composition requirements.

• Makes fee amendments retroactively effective to June 30, 2011.