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, mandating the Department of Law and Public Safety to investigate complaints and take disciplinary action against violators. If discrimination is found, the board will void the appraisal and require restitution. First-time offenders will also be mandated to attend an anti-bias seminar, while repeat offenders may face license suspensions and civil penalties of up to $10,000 for multiple violations. This legislation seeks to enhance accountability and fairness in the appraisal process, ensuring that appraisals are conducted without bias based on race, color, or national origin.

Statutes affected:
Introduced: 45:14F-3