This bill establishes strict penalties for appraisers who engage in discriminatory practices during real estate appraisals, specifically targeting discrimination based on race, color, religion, sex, sexual orientation, gender identity, age, marital status, disability, familial status, or national origin. If the State Real Estate Appraiser Board finds that a holder of an appraisal license or certification has discriminated, the appraisal will be deemed void. For a first violation, the board may impose fines, require restitution for the cost of the appraisal, and mandate attendance at an anti-bias seminar. Subsequent violations lead to more severe penalties, including suspension or revocation of the license, with civil penalties escalating up to $50,000 for repeated offenses.

Additionally, the bill mandates that licensed real estate brokers and mortgage brokers provide specific information to both present and prospective owners or occupants regarding their rights to report suspected discriminatory appraisals. This information must be provided within three days of initial interactions or mortgage applications. The Division on Civil Rights is tasked with collecting demographic information from complainants regarding alleged discriminatory appraisals and must report this data to the Governor and Legislature by July 1, 2026. Overall, the bill aims to enhance accountability in real estate appraisals and protect individuals from discrimination in housing.