House Bill No. 4864 amends the eligibility requirements for individuals seeking to serve as arbitrators in binding arbitration related to appraisal review board orders in Texas. The bill specifies that, in addition to being a licensed attorney or having completed 30 hours of training in arbitration and alternative dispute resolution, individuals can also qualify if they have been licensed or certified as a registered professional appraiser under Chapter 1151 of the Occupations Code. This addition expands the pool of potential arbitrators by including professionals with relevant qualifications in real estate appraisal.

Furthermore, the bill updates the renewal process for arbitrators included in the comptroller's registry, stipulating that to remain listed after two years, an arbitrator must renew their agreement with the comptroller in alignment with the renewal of their license or certification. The bill also removes references to certain previous certifications, specifically those under Chapters 901, 1101, and 1103, while adding the new category for registered professional appraisers. The act is set to take effect immediately upon receiving a two-thirds vote from both houses or on September 1, 2025, if that threshold is not met.

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