CA SB70

Amends Business and Professions Code Section 11319 to create a temporary exemption from Uniform Standards of Professional Appraisal Practice (USPAP) requirements for real estate appraisers until January 1, 2020

Allows licensees to prepare restricted appraisal reports for intended users beyond the client if advance client consent is obtained and specific conditions are met

Exemption does not apply to federally related real estate transactions, residential dwellings of one to four units, or transactions subject to Section 10232.5

Requires exempt reports to clearly identify all intended users and include statements that conclusions may require additional information from the appraiser's workfile and that unverified assumptions may significantly impact the appraised value

Approved by Governor on September 29, 2018