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CT SB00205

Bill

Status

Passed

5/28/2014

Primary Sponsor

General Law Committee

Click for details

Origin

Senate

2014 General Assembly

AI Summary

  • Eliminates "licensed appraiser" and "limited appraiser" categories, retaining only "certified appraiser" and "provisional appraiser" designations effective July 1, 2014.

  • Removes references to "licensed" or "limited licensed" appraisers throughout statute sections 20-500 to 20-528, streamlining credential terminology and associated fee structures.

  • Updates appraisal management company requirements to verify appraisers hold valid certificates in good standing and maintain compliance with Uniform Standards of Professional Appraisal Practice (USPAP).

  • Modifies fee schedules by eliminating separate fees for licensed and limited licensed appraisers, establishing unified fees of $375 initial/$285 renewal for certified appraisers and $100 initial/$100 renewal for provisional licensees.

  • Adds new provisions requiring real estate appraisal school registration with biennial fees ($200 registration, $100 application per course) and specifies that appraisal management company employees reviewing appraisals must hold certification in good standing.

Legislative Description

An Act Making Minor And Technical Changes To Real Estate Appraiser And Appraisal Management Company Definitions And Statutes.

Last Action

Signed by the Governor

5/28/2014

Committee Referrals

General Law2/19/2014

Full Bill Text

No bill text available