House Bill No. 288, introduced by Representative Boyd, aims to amend existing laws regarding real estate appraisers in Louisiana. The bill updates the continuing education requirements for appraisers, mandating that they obtain at least twenty-eight hours of continuing education credit in accordance with the Real Property Appraiser Qualification Criteria. Additionally, it modifies the definitions of "appraisal management company" and "appraisal management services," clarifying the roles and responsibilities of these entities. The bill also repeals certain provisions related to application timelines and a sunset provision, streamlining the regulatory framework for real estate appraisers.

Key changes include the removal of the requirement for appraisers to complete a minimum of seven hours of education on the Uniform Standards of Professional Appraisal Practice (USPAP) each renewal period, as this will now be encompassed within the overall continuing education requirement. The bill specifies that an appraisal management company must oversee a panel of more than fifteen state-certified or state-licensed appraisers in a state or twenty-five or more in multiple states. The proposed law is set to take effect on January 1, 2026, while other sections will become effective upon the governor's signature or after the lapse of time for gubernatorial action.

Statutes affected:
HB288 Original: 37:3408(B), 37:2(3), 37:3398(C)
HB288 Engrossed: 37:3408(B), 37:2(3), 37:3398(C)