VA HB432

Creates the Task Force on Property Appraisal and Valuation Equity within the Department of Housing and Community Development to study misvaluation and undervaluation of real property owned by minority individuals

Establishes a 21-member task force including state officials, real estate appraisers, banking representatives, and members from organizations such as the Virginia Association of Realtors, Housing Opportunities Made Equal, and the Virginia Poverty Law Center

Directs the task force to study strategies for combating valuation bias, increasing appraiser training, removing barriers to minority entry into the appraisal profession, and reducing bias in automated valuation models

Requires annual meetings and submission of a report with recommendations to the Governor and General Assembly by December 1 each year

Task force provisions expire on July 1, 2029