Bill > A02274

This bill modifies existing laws to establish a new financial penalty system for real estate appraisers and allocate those funds to combat housing discrimination. Specifically, the bill allows the state department to impose fines up to $2,000 on state-certified or licensed real estate appraisers for certain professional violations. Importantly, 50% of these collected fines will be directed to the anti-discrimination in housing fund, which supports fair housing testing efforts. The bill updates several sections of executive and state finance law to enable this new fine structure, including provisions for notifying appraisers of potential disciplinary actions and outlining the process for imposing penalties. The changes also expand the anti-discrimination in housing fund's mandate to explicitly include testing real estate appraisers, reflecting growing concerns about potential bias in property valuation. The modifications aim to provide additional tools for addressing discriminatory practices in the real estate appraisal industry while generating resources to support anti-discrimination initiatives.

Justice

https://www.nysenate.gov/legislation/bills/2025/A2274