MA H1114

Bill

MA H1114

Relative to appraisal management companies

Introduced
01/22/2019

In Committee
06/19/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to appraisal management companies. Financial Services.

AI Summary

This bill aims to regulate appraisal management companies (AMCs) in Massachusetts. Key provisions include: 1. Requiring AMCs to register with the Board of Real Estate Appraisers and meet certain requirements, such as verifying appraisers' licenses, reviewing their work, and maintaining records. 2. Prohibiting AMCs from taking certain actions to influence appraisers, such as coercing, intimidating, or offering financial incentives to appraisers to influence their valuations. 3. Granting the Board authority to investigate AMCs, issue subpoenas, and take disciplinary action against AMCs that violate the law, including fines and license suspensions or revocations. 4. Exempting certain entities, such as federal and state government agencies and insured depository institutions, from the registration requirements. The bill is intended to enhance oversight and regulation of AMCs to ensure the independence and integrity of real estate appraisals in Massachusetts.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (37)

Jim Arciero (D), Brian Ashe (D), Bruce Ayers (D), Nick Boldyga (R), Edward Coppinger (D), Claire Cronin (D), Josh Cutler (D), David DeCoste (R), Viriato deMacedo (R), Marcos Devers (D), Shawn Dooley (R), Carolyn Dykema (D), Carmine Gentile (D), Thomas Golden (D), Jim Hawkins (D), Natalie Higgins (D), Bradford Hill (R), Dan Hunt (D), Kay Khan (D), Kathy LaNatra (D), John Lawn (D), David Linsky (D), Paul McMurtry (D), Rady Mom (D), Matt Muratore (R), Patrick O'Connor (R), Angelo Puppolo (D), Michael Rodrigues (D), Dave Rogers (D), Jeff Roy (D), Mike Rush (D), Tom Stanley (D), Dean Tran (R), Steve Ultrino (D), Dave Vieira (R), Tom Walsh (D), Timothy Whelan (R),

Last Action

New draft substituted, see H3904 (on 06/19/2019)

Official Document

https://malegislature.gov/Bills/191/H1114

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H1114
Bill	https://malegislature.gov/Bills/191/H1114.pdf

Bill	Bill Name	Last Action	Type
H1111	Allowing for retail pharmacy discounts and co-pay assistance	Accompanied a study order, see H5160	Similar To
H2684	Reducing filing fees for single member LLCs	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H2685	Reducing certificate of organization fees for limited liability companies	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
H2821	Relative to double poles	Accompanied a study order, see H4405	Similar To
H3114	Regulating rental car companies	Accompanied a study order, see H4772	Similar To
H3904	Relative to appraisal management companies	Signed by the Governor, Chapter 43 of the Acts of 2019	Replaced by
H901	Relative to arbitration for automobile insurance property damage	Accompanied a study order, see H5160	Similar To
H903	Authorizing insurance providers to extend motor vehicle liability insurance rebates to customers with safe driving records	Accompanied a study order, see H5160	Similar To
S2289	Relative to public safety and transparency by transportation network companies	Ought NOT to pass (under Joint Rule 10) and placed in the Orders of the Day for the next session	Similar To

Bill > H1114

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (37)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary