Bill No.: HB0224                          Drafter:  DJP

LSO No.:    07LSO-0319                    Effective Date:  7/1/2007

Enrolled Act No.: HEA0118

Chapter No.:

Prime Sponsor:          Representative Quarberg

Catch Title:                  Real estate appraisers.

Subject:                Real estate appraisers.

Summary/Major Elements:

· Allows certified real estate appraiser board access to criminal history information for applicants and to require criminal history background checks; Requires applicants to submit to fingerprinting.

· Gives certain duties previously preformed by the Wyoming real estate commission to the certified real estate appraiser board.

· Permits the board to impose certain penalties for offenses under the act. Provides that failing to report civil or criminal proceedings that involve appraisal services is an offense.

· Requires the board to impose rules and regulations necessary to carry out the requirements of Title XI of the Financial Institutions Reform, Recovery and Enforcement act of 1989.

· Revises the requirements to practice as a certified real estate appraisal trainee.

· Decreases the term of a permit to two years.

· Decreases the continuing education requirement to 30 classroom hours and requires a 7 hour national USPAP update course.

· Reduces the length of time that a real estate appraiser must retain copies of records for 7 years.

· Increases the number of classroom hours before examination for general classification to 300 and residential classification to 200.

· Requires an applicant for general classification to have 2.5 years of experience and 3000 hours in real estate appraisal and an applicant for residential classification to have 2 years of experience and 2500 hours of in real estate appraisal.

Comments:

· Contains delayed effective date - Section 2 is effective January 1, 2008.