This bill amends several sections of the Nebraska Revised Statutes to enhance the regulatory framework surrounding real property appraisers and appraisal management companies. Key changes include the introduction of new provisions for the investigation of alleged violations of the Real Property Appraiser Act, allowing the board to enter into contingent dismissal agreements with remedial measures for credential holders. Additionally, the bill mandates that any disciplinary actions against credentialed appraisers be reported to federal authorities, and it clarifies that a successfully completed contingent dismissal agreement does not constitute disciplinary action.

Furthermore, the bill establishes stricter ownership restrictions for appraisal management companies, ensuring that no individual with a revoked or denied real property appraiser credential can hold ownership. It also requires individuals owning more than ten percent of an appraisal management company to undergo fingerprint-based criminal history checks. The board is granted authority to issue cease and desist orders against unregistered appraisal management companies and to impose fines or civil penalties for violations, while also promoting voluntary compliance and corrective actions. Overall, the bill aims to strengthen oversight and accountability within the appraisal industry in Nebraska.

Statutes affected:
Introduced: 76-2239, 76-3207, 76-3216