S.B. 144

126th General Assembly

(As Introduced)

Sens. Schuler, Clancy, Mumper

BILL SUMMARY

· Establishes requirements for the temporary registration rather than the issuance of temporary certificates or licenses to nonresident real estate appraisers.

· Creates as a new condition that must be satisfied to obtain a temporary registration a requirement that the appraisal for which the temporary registration is needed is part of a federally related transaction.

CONTENT AND OPERATION

Temporary certification and licensure as an nonresident appraiser

Current law

Under current law, a nonresident appraiser may apply for, and the Real Estate Appraiser Board may issue, a temporary certificate or license under Ohio's Real Estate Appraisers Law (R.C. Chapter 4763.) if the Board determines that the state in which the nonresident appraiser is licensed or certified has licensing or certification requirements that are substantially similar to the certification or licensure requirements established in Ohio's Real Estate Appraisers Law and the rules adopted under that law. The Board is required by existing law to adopt rules relating to the temporary certification and licensure of nonresident appraisers. Each temporary certificate and license issued by the Board must identify the location of the real estate property to be appraised and cannot authorize appraisal of more than one real estate property located in this state. Current law prohibits the Board from issuing more than two temporary certificates or licenses in any one calendar year to any one applicant. (Sec. 4763.05(E)(2).)

The bill

The bill instead requires the Board to recognize, on a temporary basis, a certification or license issued in another state and to temporarily register, rather than issue a temporary certificate or license to, an appraiser who is certified or licensed in another state if all of the following apply:

(1)  The temporary registration is to appraise property that is part of a federally related transaction;

(2)  The appraiser's business in this state is of a temporary nature;

(3)  The appraiser registers with the Board.

The bill requires an appraiser who is certified or licensed in another state to register with the Board for temporary practice before performing an appraisal assignment in this state in connection with a federally related transaction. The Board must adopt rules relating to the temporary registration of nonresident appraisers. The Board cannot issue more than two registrations for temporary practice to any one applicant in any calendar year. (Sec. 4763.05(E)(2).)

HISTORY

ACTION	DATE	JOURNAL ENTRY
Introduced	05-10-05	p. 492

S0144-I-126.doc/jc