The bill, S.B. No. 1735, aims to enhance the regulation of real estate appraisers and appraisal management companies in Texas by introducing a stipend program for appraiser trainees and certified appraisers who serve as supervisors. This program, established under the new Section 1103.164, will provide financial support to promote professional development, increase the number of qualified appraisers, and foster economic growth in the state. The board will consider financial need when awarding stipends and will fund the program through gifts, grants, and donations. Additionally, the bill amends various sections of the Occupations Code to update application requirements, employment restrictions, and the handling of administrative penalties.

Key amendments include the requirement for applicants to provide their business address and telephone number, as well as the introduction of stricter employment restrictions for appraisal management companies regarding individuals with revoked or suspended licenses. The bill also changes the handling of administrative penalties, mandating that they be remitted to the general revenue fund rather than a restricted fund for educational purposes. Other amendments clarify the roles of the board and the executive director in investigating complaints and delegating authority. The bill is set to take effect on September 1, 2025, unless it receives a two-thirds vote for immediate effect.

Statutes affected:
Introduced: Occupations Code 1103.203, Occupations Code 1104.104, Occupations Code 1104.151, Occupations Code 1104.202, Occupations Code 1104.205, Occupations Code 1104.208, Occupations Code 1104.2081 (Occupations Code 1103, Occupations Code 1104)