This bill aims to reduce the membership of the State Real Estate Appraiser Board from 11 to 7 members and to implement measures that prohibit discriminatory practices in property appraisals. The new structure will require the Governor to appoint board members based on recommendations from the Senate President and the Speaker of the General Assembly, with each able to recommend three members. The composition will include public members, licensed and certified real estate appraisers, and representatives from the appraisal management company industry, ensuring a diverse representation.

Additionally, the bill establishes a framework for addressing discrimination in real estate appraisals. It mandates the Department of Law and Public Safety to investigate complaints of discrimination and directs the State Real Estate Appraiser Board to take disciplinary actions against violators. Disciplinary measures include voiding discriminatory appraisals, requiring restitution, and mandating attendance at anti-bias seminars for first-time offenders. Subsequent violations can lead to license suspensions and civil penalties, with fines escalating for repeated offenses. This legislation seeks to enhance accountability and promote fairness in the appraisal process.

Statutes affected:
Introduced: 45:14F-3