HB1453
Real estate appraisers; changes definition of 'evaluations.'
Summary
As Passed Both Chambers. Real estate appraisers; evaluations.
Changes the definition of "evaluation" from an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specified interests in, or aspects of, identified real property to an opinion of the market value of real property or real estate that may be utilized in connection with a ... (More) real estate-related financial transaction where an appraisal by a state-certified or state-licensed appraiser is not required by the state or federal financial institution's regulatory agency engaging in, contracting for, or regulating such real estate-related financial transaction or regulating the financial institution or lender engaged in or about to engage in such real estate-related financial transaction. The bill requires that an evaluation meet the format requirements of the federal Interagency Appraisal and Evaluation Guidelines, include sufficient information in clear and understandable language to allow a person to understand the opinion of the market value of real property or real estate, and contain the statement: "This is not an appraisal performed in accordance with the Uniform Standards of Professional Appraisal Practice." (Less)-
Bill History
- 01/17/2018 - House: Presented and ordered printed 18104245D
- 01/17/2018 - House: Referred to Committee on General Laws
- 01/19/2018 - House: Assigned GL sub: Subcommittee #2
- 01/23/2018 - House: Impact statement from DPB (HB1453)
- 01/25/2018 - House: Subcommittee recommends reporting (8-Y 0-N)
- 01/30/2018 - House: Reported from General Laws (22-Y 0-N)
- 02/01/2018 - House: Read first time
- 02/02/2018 - House: Read second time and engrossed
- 02/05/2018 - House: Read third time and passed House BLOCK VOTE (98-Y 0-N)
- 02/05/2018 - House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/06/2018 - Senate: Constitutional reading dispensed
- 02/06/2018 - Senate: Referred to Committee on General Laws and Technology
- 02/26/2018 - Senate: Reported from General Laws and Technology with amendments (15-Y 0-N)
- 02/28/2018 - Senate: Constitutional reading dispensed (40-Y 0-N)
- 03/01/2018 - Senate: Read third time
- 03/01/2018 - Senate: Reading of amendments waived
- 03/01/2018 - Senate: Committee amendments agreed to
- 03/01/2018 - Senate: Engrossed by Senate as amended
- 03/01/2018 - Senate: Passed Senate with amendments (40-Y 0-N)
- 03/05/2018 - House: Placed on Calendar
- 03/05/2018 - House: Senate amendments agreed to by House (99-Y 0-N)
- 03/05/2018 - House: VOTE: ADOPTION (99-Y 0-N)
- 03/07/2018 - House: Enrolled
- 03/07/2018 - House: Bill text as passed House and Senate (HB1453ER)
- 03/07/2018 - House: Impact statement from DPB (HB1453ER)
- 03/07/2018 - House: Signed by Speaker
- 03/09/2018 - Senate: Signed by President
- 03/15/2018 - House: Enrolled Bill communicated to Governor on March 15, 2018
- 03/15/2018 - Governor: Governor's Action Deadline Midnight, April 9, 2018
- 03/30/2018 - Governor: Approved by Governor-Chapter 644 (effective 7/1/18)
- 03/30/2018 - Governor: Acts of Assembly Chapter text (CHAP0644)
