Senate File 2373 - Introduced
SENATE FILE
BY COMMITTEE ON STATE GOVERNMENT
(SUCCESSOR TO SF 2098)
Passed Senate, Date Passed House, Date
Vote: Ayes Nays Vote: Ayes Nays
Approved
A BILL FOR
1 An Act relating to the certification and registration of real
2 estate appraisers and providing a penalty.
3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
4 TLSB 5631SV 81
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PAG LIN
1 1 Section 1. NEW SECTION. 543D.3A REGISTRATION REQUIRED.
1 2 A person engaged in the business or acting in the capacity
1 3 of a real estate appraiser for compensation within this state
1 4 shall register biennially with the board. The board shall
1 5 maintain a list of registrations at the board office,
1 6 available for public inspection.
1 7 A person who has registered but has not been certified
1 8 under this chapter shall inform a client, prior to providing
1 9 any appraisal service, that the person is not a certified real
1 10 estate appraiser. The board may investigate complaints
1 11 against compensated real estate appraisers who are not
1 12 certified pursuant to this chapter and may impose a penalty as
1 13 provided in this chapter.
1 14 Sec. 2. Section 543D.17, subsection 1, paragraph f, Code
1 15 2005, is amended to read as follows:
1 16 f. Negligence, or incompetence, or bias in developing an
1 17 appraisal, in preparing an appraisal report, or in
1 18 communicating an appraisal, or acting with bias while involved
1 19 in valuation assignments in real property appraisal practice.
1 20 Sec. 3. Section 543D.17, subsection 3, Code 2005, is
1 21 amended to read as follows:
1 22 3. Notwithstanding the limitations of section 272C.3,
1 23 subsection 2, paragraph "e", the board shall adopt a rule
1 24 providing for civil penalties in amounts and for the reasons
1 25 authorized by federal law where federal law requires the board
1 26 to have the authority to impose the civil penalties in order
1 27 to obtain or to retain the board's designation as a qualified
1 28 state appraiser certifying agency. An administrative penalty
1 29 imposed under this section shall not be more than one thousand
1 30 dollars for each violation. All administrative penalties
1 31 collected pursuant to this chapter shall be deposited in the
1 32 housing trust fund created in section 16.181.
1 33 Sec. 4. NEW SECTION. 543D.20 EXCLUSIONS.
1 34 1. This chapter does not apply to any of the following:
1 35 a. An individual licensed under chapter 543B.
2 1 b. An individual registered under chapter 535B.
2 2 c. An individual who provides administrative services to a
2 3 certified real estate appraiser, such as taking photographs,
2 4 preparing charts, or typing reports, who is not an associate
2 5 real estate appraiser and who does not provide any assistance
2 6 in developing the analysis, valuation, opinions, or
2 7 conclusions associated with the appraisal assignment.
2 8 d. An employee of any of the following:
2 9 (1) The federal government.
2 10 (2) The state, or any agency, department, or political
2 11 subdivision of the state, except as provided for an employee
2 12 of the state department of transportation pursuant to section
2 13 543D.3.
2 14 (3) A financial institution as defined in section 527.2.
2 15 (4) An insurance company authorized to transact the
2 16 business of insurance in this state.
2 17 (5) A licensee or registrant under chapter 535B, 536, or
2 18 536A.
2 19 2. An employee under subsection 1, paragraph "d", shall
2 20 not provide appraisal services or complete an appraisal
2 21 assignment for any person other than the person's employer
2 22 unless the person is in compliance with this chapter.
2 23 EXPLANATION
2 24 This bill requires that any person who provides real estate
2 25 appraisal services in this state, for compensation, must
2 26 register with the board. The board shall maintain a list of
2 27 registrations at the board office, available for public
2 28 inspection. The bill provides, in new Code section 543D.20, a
2 29 list of persons who are not subject to the provisions of Code
2 30 chapter 543D.
2 31 The bill also prohibits an appraiser from acting with bias
2 32 in developing an appraisal, preparing an appraisal report, or
2 33 communicating an appraisal or while involved in valuation
2 34 assignments in real property appraisal practice. The bill
2 35 limits any administrative penalties which may be imposed under
3 1 Code chapter 543D to $1,000 for each violation.
3 2 LSB 5631SV 81
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