Bill > HR5520

This bill establishes a new cloud-based Portal for Appraiser Credentialing and AMC (Appraisal Management Company) Registration Information to streamline and centralize the licensing and registration processes for appraisers and appraisal management companies. The Portal will serve as a central system where appraisers can submit license applications, renewals, and education records, and where state appraiser licensing agencies can access comprehensive applicant information. The bill enables the Appraisal Subcommittee to facilitate criminal background checks by acting as a channeling agent between the Department of Justice and state agencies, and allows for the creation of unique identifiers for individual appraisers and companies. An advisory committee will be established to provide guidance on the Portal's development, and the system will be funded through user fees that are revenue-neutral. Importantly, the bill preserves states' independent authority to make final decisions on licensing and registration, while providing a more efficient, centralized platform for processing and sharing information. The Portal may utilize an existing platform and will aim to reduce administrative burden and improve transparency in the appraisal credentialing process.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/5520/all-info