The bill amends several sections of the Revised Statutes Cumulative Supplement, 2024, specifically focusing on the Real Property Appraiser Act and the Nebraska Appraisal Management Company Registration Act. Key changes include the introduction of new provisions that enhance the board's authority to investigate alleged violations, allowing for the use of technical assistance during investigations. The bill also establishes that any disciplinary actions taken against credentialed appraisers must be reported to federal authorities, and it clarifies that a successfully completed contingent dismissal agreement is not considered a disciplinary action.

Additionally, the bill modifies ownership restrictions for appraisal management companies, ensuring that no individual with a revoked or denied real property appraiser credential can hold ownership, and it mandates that individuals with significant ownership stakes undergo criminal history checks. The board is granted the power to impose sanctions, including fines and registration revocations, for violations of the act, while also emphasizing a preference for voluntary compliance and corrective measures before imposing severe penalties. The original sections of the statutes being amended are repealed as part of this legislative update.

Statutes affected:
Introduced: 76-2239, 76-3207, 76-3216
Final Reading: 76-2239, 76-3207, 76-3216
Slip Law: 76-2239, 76-3207, 76-3216