A bill to prohibit the Appraisal Subcommittee of the Federal Financial Institutions Examination Council from requiring or recommending the inclusion of an experience requirement in a State's procedures for the licensing of real estate appraisers, and for other purposes.

Summary

Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to prohibit the Appraisal Subcommittee from requiring or recommending experience as a criterion for State licensure of real estate appraisers. Extends from 1991 to 1992 the effective date for the requirement that all appraisers involved in federally related transactions must be licensed or certified. Prohibits the Appraisal Subcommittee from refusing to recognize a State's appraiser certification or licensing program solely because it does not include real estate appraisal experience as a license prerequisite.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 7 May 1991

  Open at official source

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