A2279 TR

Sponsored by:

Assemblywoman YVONNE LOPEZ

District 19 (Middlesex)

Assemblyman BENJIE E. WIMBERLY

District 35 (Bergen and Passaic)

Assemblywoman SHANIQUE SPEIGHT

District 29 (Essex and Hudson)

Senator TROY SINGLETON

District 7 (Burlington)

Senator ANGELA V. MCKNIGHT

District 31 (Hudson)

Co-Sponsored by:

Senator Johnson

SYNOPSIS

Requires State Real Estate Appraiser Board to adopt alternative program to acquire experiential requirements for prospective real estate appraisers attempting to qualify for licensure or certification.

CURRENT VERSION OF TEXT

As reported by the Assembly Housing Committee with technical review.

An Act concerning experiential requirements for prospective real estate appraisers and amending P.L.1991, c.68.

Be It Enacted by the Senate and General Assembly of the State of New Jersey:

1. Section 10 of P.L.1991, c.68 (C.45:14F-10) is amended to read as follows:

10. a. To be eligible for licensure as a real estate appraiser, an applicant shall fulfill the following requirements:

[a.] (1) Be at least 18 years of age;

[b.] (2) Be of good moral character;

[c.] (3) Have a high school diploma or its equivalent;

[d.] (4) Have real estate appraisal experience which experience shall meet standards for experience acceptable to the Appraisal Subcommittee;

[e.] (5) Have successfully completed a course of study in real estate appraising prescribed by the board and conducted by an approved education provider, which course of study shall meet standards acceptable to the Appraisal Subcommittee; and

[f.] (6) Successfully complete a real estate appraiser licensing examination administered by the board.

b. The board shall adopt, as an option for applicants to fulfill the requirements of paragraph (4) of subsection a. of this section, the practical applications of real estate appraisal program established by the Appraisal Qualifications Board of the Appraisal Foundation.

(cf: P.L.1991, c.408, s.5)

2. Section 11 of P.L.1991, c.68 (C.45:14F-11) is amended to read as follows:

11. a. To be eligible for certification as a general or residential real estate appraiser, an applicant shall fulfill the following requirements:

[a.] (1) Be at least 18 years of age;

[b.] (2) Be of good moral character;

[c.] (3) Have a high school diploma or its equivalent;

[d.] (4) Have real estate appraisal experience that meets the standards for experience prescribed by the Appraisal Qualifications Board of the Appraisal Foundation for the type of certificate sought;

[e.] (5) Have successfully completed a course of study in real estate appraising prescribed by the board and conducted by an approved education provider, which course of study shall meet the standards for the course of study issued by the Appraisal Qualifications Board of the Appraisal Foundation for the type of certificate sought; and

[f.] (6) Successfully complete a real estate appraiser certification examination administered by the board.

(cf: P.L.2017, c.72, s.28)

3. This act shall take effect on the 90th day next following enactment.