ME LD1514

Expands the Board of Real Estate Appraisers from 7 to 9 members, adding one real estate broker and one banking/mortgage professional to the existing composition of public members and licensed appraisers

Requires at least one board member hold a certified residential real property appraiser license, in addition to the existing requirement for one certified general license holder

Removes fixed transaction value limits ($1,000,000 for noncomplex and $250,000 for complex residential properties) for residential real property appraiser licenses, replacing them with criteria set by the appraiser qualifications board

Current board members may serve until their existing terms expire despite the membership changes

Signed into law June 18, 2025 as Public Law Chapter 359