CO HB1261

Extends the sunset date for the Board of Real Estate Appraisers from September 1, 2022 to September 1, 2031, implementing recommendations from the 2021 Department of Regulatory Agencies sunset report.

Defines "evaluation" as a market value opinion following 2010 federal interagency guidelines for financial institutions, distinguishing it from appraisals requiring Uniform Standards of Professional Appraisal Practice compliance.

Allows licensed appraisers to perform evaluations with exemptions from certain professional standards, except for ethics, record-keeping, competency, and scope-of-work requirements.

Changes appraiser experience requirements from a fixed twelve months to meeting minimum standards established by the Appraiser Qualifications Board of the Appraisal Foundation or its successor.

Increases maximum disciplinary fines from $500 to $1,000 for first violations and maintains $1,000-$2,000 range for subsequent violations; updates federal financial institution regulatory language to reference specific agencies.