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Bill > HF3784


MN HF3784

Minimum damage acquisition reports and continuing education related changes made.


summary

Introduced
02/24/2022
In Committee
05/11/2022
Crossed Over
Passed
Dead
05/23/2022

Introduced Session

92nd Legislature 2021-2022

Bill Summary

A bill for an act relating to commerce; real estate appraisers; making changes related to minimum damage acquisition reports and continuing education; amending Minnesota Statutes 2020, sections 82B.03, by adding a subdivision; 82B.19, by adding a subdivision; 82C.17, subdivision 2; Minnesota Statutes 2021 Supplement, section 82B.25, subdivision 2.

AI Summary

This bill makes several changes related to real estate appraisers in Minnesota. It allows real estate appraisers to provide "minimum damage acquisition reports" for certain purposes without being subject to the usual real estate appraisal regulations. The bill also allows real estate appraisers to receive continuing education credit for certain out-of-state synchronous educational offerings, and requires new appraisers to complete a continuing education course on valuation bias before their first license renewal. Additionally, the bill amends provisions related to how appraisal management companies can demonstrate that the fees they pay to appraisers are reasonable and customary. All of these changes take effect on September 1, 2022.

Committee Categories

Business and Industry

Sponsors (2)

Last Action

HF indefinitely postponed (on 05/12/2022)

bill text


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