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Bill > HB1429


MS HB1429

MS HB1429
Property data collection statements and reports; limit authority to prepare to registered trainees, licensed appraisers and certified appraisers.


summary

Introduced
01/20/2025
In Committee
01/20/2025
Crossed Over
Passed
Dead
02/04/2025

Introduced Session

2025 Regular Session

Bill Summary

An Act To Limit The Authority To Prepare Or Sign A Data Collection Statement, Report Or Form, As Ordered By An Appraisal Management Company, To A Registered Trainee, Licensed Appraiser Or Certified Real Estate Appraiser In This State; To Prohibit A Person Who Is Not A Registered Trainee, Licensed Appraiser Or Certified Appraiser From Assuming Or Using Any Title, Designation Or Abbreviation That Is Likely To Create The Impression That The Individual Is A Registered Trainee, Licensed Appraiser Or Certified Real Property Appraiser; And For Related Purposes.

AI Summary

This bill establishes strict regulations for property data collection and reporting in Mississippi, limiting the authority to prepare and sign property-related statements, reports, and forms to only state-certified real estate appraisers, licensed real estate appraisers, and trainee appraisers (when directly supervised by a certified appraiser). The legislation specifically prohibits individuals without these credentials from collecting, physically or digitally, information about real estate properties for valuation purposes, including commercial, industrial, and residential properties. Furthermore, the bill makes it unlawful for appraisal management companies to contract with or engage individuals who are not properly credentialed, and it prevents unauthorized persons from using titles, designations, or abbreviations that might suggest they are registered, licensed, or certified appraisers. These restrictions are designed to ensure that property data collection and appraisal-related activities are performed only by qualified professionals, thereby maintaining the integrity and accuracy of real estate valuation processes. The bill will go into effect on July 1, 2025, giving professionals and companies time to adjust to the new requirements.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Died In Committee (on 02/04/2025)

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