A bill for an act
relating to commerce; making technical and housekeeping changes to various
provisions governing or administered by the Department of Commerce; amending
Minnesota Statutes 2022, sections 82B.021, subdivision 26; 82B.094; 82B.095,
subdivision 3; 82B.13, subdivision 1; 82B.19, subdivision 1; 115C.08, subdivision
2; Minnesota Statutes 2023 Supplement, section 53B.28, subdivision 18; repealing
Minnesota Statutes 2022, sections 45.014; 82B.25.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Minnesota Statutes 2023 Supplement, section 53B.28, subdivision 18, is amended
to read:
(a) "Money transmission" means:
(1) selling or issuing payment instruments to a person located in this state;
(2) selling or issuing stored value to a person located in this state; or
(3) receiving money for transmission from a person located in this state.
(b) Moneynew text begin transmissionnew text end includes payroll processing services. Moneynew text begin transmissionnew text end does
not include the provision solely of online or telecommunications services or network access.
Minnesota Statutes 2022, section 82B.021, subdivision 26, is amended to read:
"Standards of professional practice"
meansnew text begin the version ofnew text end the uniform standards of professional appraisal practice of the
deleted text begin Appraisersdeleted text end new text begin Appraisalnew text end Standards Board of the Appraisal Foundation in effect deleted text begin as of January
1, 1991, or other version of these standards the commissioner may by order designatedeleted text end new text begin on
the date the appraiser signs the appraisal reportnew text end .
Minnesota Statutes 2022, section 82B.094, is amended to read:
(a) A certified residential real property appraiser or a certified general real property
appraiser, in good standing, may engage a trainee real property appraiser to assist in the
performance of real estate appraisals, provided that the certified residential real property
appraiser or a certified general real property appraiser:
(1) has been licensed in good standing as either a certified residential real property
appraiser or a certified general real property appraiser for the three-year period immediately
preceding the individual's application to become a supervisor;
(2) has completed a deleted text begin six-hourdeleted text end course, approved in advance by the commissioner and
provided by an education provider approved by the commissioner, that is specifically oriented
to the requirements and responsibilities of supervisory appraisers and trainee appraisersdeleted text begin . A
course approved by the commissioner for the purposes of this section must be given the
course title "Minnesota Supervisor/Trainee Appraiser Course"deleted text end ;
(3) has not been the subject of any license or certificate suspension or revocation or has
not been prohibited from supervising activities in this state or any other state within the
three years immediately preceding the individual's application to become a supervisor;
(4) has no more than three trainee real property appraisers working under supervision
at any one time;
(5) actively and personally supervises the trainee real property appraiser, which includes
ensuring that research of general and specific data has been adequately conducted and
properly reported, application of appraisal principles and methodologies has been properly
applied, that the analysis is sound and adequately reported, and that any analyses, opinions,
or conclusions are adequately developed and reported so that the appraisal report is not
misleading;
(6) discusses with the trainee real property appraiser any necessary and appropriate
changes that are made to a report, involving any trainee appraiser, before it is transmitted
to the client. Changes not discussed with the trainee real property appraiser that are made
by the supervising appraiser must be provided in writing to the trainee real property appraiser
upon completion of the appraisal report;
(7) accompanies the trainee real property appraiser on the inspections of the subject
properties and drive-by inspections of the comparable sales on all appraisal assignments
for which the trainee will perform work until the trainee appraiser is determined to be
competent, in accordance with the competency rule of USPAP for the property type;
(8) accepts full responsibility for the appraisal report by signing and certifying that the
report complies with USPAP; and
(9) reviews and signs the trainee real property appraiser's appraisal report or reports or
if the trainee appraiser is not signing the report, states in the appraisal the name of the trainee
and scope of the trainee's significant contribution to the report.
(b) The supervising appraiser must review and sign the applicable experience log required
to be kept by the trainee real property appraiser.
(c) The supervising appraiser must notify the commissioner within ten days when the
supervision of a trainee real property appraiser has terminated or when the trainee appraiser
is no longer under the supervision of the supervising appraiser.
(d) The supervising appraiser must maintain a separate work file for each appraisal
assignment.
(e) The supervising appraiser must verify that any trainee real property appraiser that is
subject to supervision is properly licensed and in good standing with the commissioner.
new text begin
This section is effective January 1, 2026.
new text end
Minnesota Statutes 2022, section 82B.095, subdivision 3, is amended to read:
(a) The
requirements to obtainnew text begin and maintainnew text end a trainee real property appraiser, licensed real property
appraiser, certified residential real property appraiser, or certified general real property
appraiser license are the education, examination, and experience requirements established
by the Appraiser Qualifications Board of the Appraisal Foundation and published in the
most recent version of the Real Property Appraiser Qualification Criteria.
(b) An applicant must complete the applicable education and experience requirements
before taking the required examination.
new text begin
This section is effective January 1, 2026.
new text end
Minnesota Statutes 2022, section 82B.13, subdivision 1, is amended to read:
As a prerequisite for licensing as a
trainee real property appraiser, an applicant must present evidence satisfactory to the
commissioner that the person has successfully completed a deleted text begin six-hourdeleted text end course that is specifically
oriented to the requirements and responsibilities of supervisory appraisers and trainee
appraisers. deleted text begin A course approved by the commissioner for the purposes of this subdivision
must be given the course title "Minnesota Supervisor/Trainee Appraiser Course." Thisdeleted text end new text begin Thenew text end
coursenew text begin under this subdivisionnew text end must not be counted toward qualifying education to upgrade
to a higher level appraiser license.
new text begin
This section is effective January 1, 2026.
new text end
Minnesota Statutes 2022, section 82B.19, subdivision 1, is amended to read:
deleted text begin (a)deleted text end The commissioner must determine that a licensed
real estate appraiser has met the continuing education requirements of this chapter before
the commissioner renews a license. This determination must be based on, for a resident
appraiser, course completion records uploaded electronically in a manner prescribed by the
commissioner and, for a nonresident appraiser, course completion records presented by
electronic transmission or uploaded electronically in a manner prescribed by the
commissioner.
deleted text begin
The basic continuing education requirement for renewal of a license is the completion
by the applicant either as a student or as an instructor, durin