Bill
Bill > S1785
NJ S1785
NJ S1785Permits State Real Estate Appraiser Board to revoke, suspend, or fine appraisers or appraisal management companies who knowingly engage in discriminatory appraisals of residential property on basis of race or national origin.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill permits the State Real Estate Appraiser Board to revoke, suspend or fine appraisers or appraisal management companies who knowingly engage in a discriminatory appraisal of a residential property on the basis of the property buyer or property holder's race or national origin. Under this bill, holders of appraisal licenses or certifications, or appraisal management company registrations, may have their licenses, certifications or registrations revoked or suspended, or be subject to fines, if the board determines, after an appropriate investigation, that the holder of the license, certification or registration has knowingly engaged in a discriminatory appraisal of a residential property on the basis of the property buyer or property holder's race, creed, color, or national origin. If the board finds cause to suspend, revoke or fine a holder of a license, certification or registration, then the board is required to notify the holder of the board's rationale in writing. The board must also provide opportunity for a hearing to be held in accordance with the State's Administrative Procedure Act.
AI Summary
This bill empowers the State Real Estate Appraiser Board to take action against appraisers and appraisal management companies, which are businesses that manage licensed appraisers, if they knowingly conduct discriminatory appraisals of residential properties based on a buyer or seller's race, creed, color, or national origin. If the board finds such discrimination after an investigation, it can suspend or revoke an appraiser's license or certification, or an appraisal management company's registration, and can also impose fines or civil penalties. The bill also mandates that the board must inform the individual or company of the reasons for any disciplinary action in writing and provide an opportunity for a hearing, following the procedures outlined in the State's Administrative Procedure Act, which governs how state agencies conduct official business and make decisions.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/09/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S1785 |
| BillText | https://pub.njleg.gov/Bills/2026/S2000/1785_I1.HTM |
| BillText | https://pub.njleg.gov/Bills/2024/S2000/1785_I1.HTM |
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