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Senate File 60

Partial Bill History

Bill Introduced: S.J. 133
Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 543D.1, Code 2001, is amended to read
  1  2 as follows:
  1  3    543D.1  SHORT TITLE.
  1  4    This chapter shall be known and may be cited as the "Iowa
  1  5 Voluntary Appraisal Standards and Appraiser Certification
  1  6 Law".
  1  7    Sec. 2.  Section 543D.3, Code 2001, is amended to read as
  1  8 follows:
  1  9    543D.3  PURPOSES – VOLUNTARY MANDATORY CERTIFICATION.
  1 10    The purpose of this chapter is to establish standards for
  1 11 real estate appraisals and a procedure for the voluntary
  1 12 mandatory certification of real estate appraisers.
  1 13    A Except as otherwise provided in this chapter, only a
  1 14 person who is not a certified real estate appraiser under this
  1 15 chapter may shall appraise real estate for compensation if
  1 16 certification is not required by this chapter or by federal or
  1 17 state law, rule, or policy.  However, an An employee of the
  1 18 state department of transportation whose duties include
  1 19 appraisals of property pursuant to chapter 6B must be a
  1 20 certified real estate appraiser under this chapter.
  1 21    Sec. 3.  NEW SECTION.  543D.20  EXCLUSIONS FROM
  1 22 APPLICABILITY OF CHAPTER.
  1 23    1.  This chapter does not apply to the following:
  1 24    a.  An individual licensed under chapter 543B who does not
  1 25 provide an appraisal, but who in the ordinary course of
  1 26 business provides an opinion of value, valuation, analysis, or
  1 27 a recommendation of price or pricing of real estate in the
  1 28 pursuit of a listing, when the opinion is provided to assist a
  1 29 potential purchaser in developing a purchase offer or to
  1 30 provide a broker's price opinion, whether or not the opinion
  1 31 is provided for a fee.  Providing an opinion pursuant to this
  1 32 paragraph is not subject to the uniform standard of
  1 33 professional appraisal practices adopted by the appraisal
  1 34 foundation.
  1 35    b.  An employee of any of the following:
  2  1    (1)  The federal government.
  2  2    (2)  The state, or any agency, department, or political
  2  3 subdivision of the state, except as provided for an employee
  2  4 of the state department of transportation pursuant to section
  2  5 543D.3.
  2  6    (3)  A financial institution as defined in section 535A.1.
  2  7    (4)  An insurance company authorized to transact the
  2  8 business of insurance in this state.
  2  9    2.  An employee under subsection 1, paragraph "a", may
  2 10 render an estimate or opinion of value of real estate or an
  2 11 interest in real estate when such estimate or opinion is
  2 12 rendered for the purpose of real estate taxation.  
  2 13                           EXPLANATION
  2 14    This bill amends Code chapter 543D relating to the
  2 15 certification of real estate appraisers and requires
  2 16 appraisers to be certified under that Code chapter.
  2 17 Currently, appraiser certification is voluntary except for
  2 18 department of transportation employees.
  2 19    New Code section 543D.20 is created and excludes certain
  2 20 individuals from the provisions of Code chapter 543D,
  2 21 including a licensed real estate broker or salesperson who
  2 22 does not provide an appraisal, but who in the ordinary course
  2 23 of business provides an opinion of value, valuation, analysis,
  2 24 or a recommendation of price or pricing which is provided in
  2 25 the pursuit of a listing, to assist a potential purchaser in
  2 26 developing a purchase offer, or to provide a broker's price
  2 27 opinion, whether or not such opinion is provided for a fee; an
  2 28 employee of the federal government, state government, or any
  2 29 agency, department, or political subdivision of the state; an
  2 30 employee of a financial institution; or an employee of an
  2 31 insurance company authorized to transact the business of
  2 32 insurance in this state.  
  2 33 LSB 1636SS 79
  2 34 rn/cf/24

Text: SF00059                           Text: SF00061
Text: SF00000 - SF00099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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