Bill
Bill > SF3503
MN SF3503
Real estate minimum damage acquisition reports, continuing education and investigations provisions modifications
summary
Introduced
02/28/2022
02/28/2022
In Committee
03/23/2022
03/23/2022
Crossed Over
05/11/2022
05/11/2022
Passed
05/24/2022
05/24/2022
Dead
Signed/Enacted/Adopted
06/02/2022
06/02/2022
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 property acquisitions without being subject to the regular appraisal regulations. It also allows real estate appraisers to receive continuing education credit for certain out-of-state synchronous (live) educational offerings, and it clarifies the timeline for real estate appraisers to complete a required continuing education course on the valuation bias of real property. Finally, it removes the ability for the state to establish a fee schedule for appraisal management companies to use in determining reasonable and customary fees paid to appraisers.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Secretary of State, Filed (on 06/02/2022)
Official Document
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