NY A07816

Requires the Commissioner of Taxation and Finance to establish a 10-member Real Estate Appraiser Task Force to investigate misevaluation and bias in residential property appraisals.

Task force shall harmonize appraisal standards, identify causes of racial disparities in valuations, and strengthen protections against unlawful discrimination in residential appraisals.

Task force shall enhance fair housing enforcement, improve data collection on valuation bias, and work to build a diverse appraiser workforce while removing barriers to entry for minorities.

Task force shall empower consumers by identifying government resources for appraisal bias complaints, training housing counselors, and conducting a public awareness campaign on consumer rights.

Task force shall submit an initial report within 12 months of the effective date, followed by yearly updates; the act takes effect 90 days after passage and expires two years thereafter.