HI HB139

Amends Hawaii Revised Statutes Chapter 466K to update references to federal law governing real estate appraisers, specifically Title 12 United States Code Sections 3301 et seq. and 3331 et seq.

Clarifies that the director of commerce and consumer affairs must comply with both Section 3301 and Section 3331 requirements when granting certifications, adopting rules, enforcing regulations, and disciplining certified real estate appraisers.

Requires the Department of Commerce and Consumer Affairs to analyze expanding Chapter 466K to regulate real estate appraisal management companies under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, including implementation costs.

Mandates the department submit findings, recommendations, and any proposed legislation to the legislature no later than twenty days before the 2012 regular legislative session.

Takes effect January 7, 2059.