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 board is now required to report any disciplinary actions against credentialed appraisers to federal authorities and can enter into contingent dismissal agreements with remedial measures for violations. Additionally, the bill clarifies that a successfully completed contingent dismissal agreement is not considered disciplinary action.

Further amendments address the ownership restrictions for appraisal management companies, stipulating that no person with a revoked or canceled real property appraiser credential can hold ownership, and that individuals with significant ownership must undergo criminal history checks. The bill also empowers the board to impose fines, suspend or revoke registrations, and enter into contingent dismissal agreements for violations of the act. It emphasizes a fair enforcement approach, encouraging compliance and prompt correction of violations while ensuring that any disciplinary actions are reported to the Appraisal Subcommittee as required by federal law. The original sections being amended are repealed as part of this legislative update.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