NJ S3534

Reduces the State Real Estate Appraiser Board from 11 members to 7 members, with appointments made by the Governor upon recommendation from the Senate President (3 members) and Speaker of the General Assembly (3 members)

Prohibits real estate appraisers and appraisal management companies from discriminating based on actual or perceived race, color, or national origin of property buyers, owners, agents, or neighborhood occupants

First-time discrimination violations result in voided appraisals, mandatory restitution of appraisal costs, and required attendance at an anti-bias seminar

Second violations trigger license suspension for at least 60 days plus restitution; third violations result in license revocation for at least two years

Civil penalties of up to $5,000 for second violations within five years and $10,000 for third and subsequent violations