Minnesota Legislature
SF 3551
2nd Engrossment - 84th Legislature (2005 - 2006) Posted on 12/15/2009 12:00am
Bill Text Versions
| Engrossments | ||
|---|---|---|
| Introduction | Posted on 03/23/2006 | |
| 1st Engrossment | Posted on 04/03/2006 | |
| 2nd Engrossment | Posted on 05/20/2006 |
Current Version - 2nd Engrossment
1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 1.17 1.18 1.19 1.20
1.21 1.22 1.23 2.1 2.2
2.3 2.4 2.5 2.6 2.7
2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16 2.17 2.18 2.19 2.20 2.21
2.22 2.23 2.24 2.25 2.26 2.27 2.28 2.29 2.30 2.31 2.32 2.33 3.1 3.2 3.3 3.4 3.5 3.6 3.7
3.8 3.9 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17 3.18 3.19 3.20 3.21 3.22 3.23 3.24 3.25 3.26 3.27
3.28 3.29 3.30 3.31 3.32 3.33 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8 4.9 4.10 4.11 4.12 4.13 4.14 4.15 4.16 4.17 4.18 4.19 4.20 4.21 4.22 4.23 4.24 4.25 4.26 4.27 4.28 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 5.9 5.10 5.11 5.12
5.13 5.14 5.15 5.16 5.17 5.18
5.19 5.20 5.21 5.22 5.23 5.24 5.25 5.26 5.27 5.28 5.29 5.30 5.31 6.1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 6.9
A bill for an act
relating to real estate appraisers; regulating trainees; modifying appraiser
education, experience, and examination requirements; amending Minnesota
Statutes 2004, section 82B.11, subdivisions 2, 3; Minnesota Statutes 2005
Supplement, sections 82B.095; 82B.13, subdivisions 1, 4, 5, by adding
subdivisions; 82B.14.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2005 Supplement, section 82B.095, is amended to read:
82B.095 APPRAISER QUALIFICATION COMPONENTS.
new text begin Subdivision 1. new text end
new text begin Components before January 1, 2009. new text end
The three components
required for a real property appraiser license are education, experience, and examination.
Applicants for a class of license must document that they have met at least the component
criteria that were in effect at the time they completed that componentnew text begin , provided that at a
minimum, the January 1, 2003, criteria has been metnew text end .
new text begin Subd. 2. new text end
new text begin Components on or after January 1, 2009. new text end
new text begin
(a) On or after January 1,
2009, an applicant for a class of license must document that the applicant has met the
education, experience, and examination components in effect after January 1, 2008.
new text end
new text begin
(b) Qualifications for all levels of licensing must conform to the Real
Property Qualification Criteria established by the Appraisal Qualifications Board for
implementation effective January 1, 2008.
new text end
Sec. 2.
Minnesota Statutes 2004, section 82B.11, subdivision 2, is amended to read:
Subd. 2.
deleted text begin Registereddeleted text end new text begin Traineenew text end real property appraiser.
When a net income
capitalization analysis is not required by the uniform standards of professional appraisal
practice, a deleted text begin registereddeleted text end new text begin traineenew text end real property appraiser may appraise residential real property
or agricultural property.
Sec. 3.
Minnesota Statutes 2004, section 82B.11, subdivision 3, is amended to read:
Subd. 3.
Licensed new text begin residential new text end real property appraiser.
A licensed new text begin residential new text end real
property appraiser may appraise noncomplex residential property or agricultural property
having a transaction value less than $1,000,000 and complex residential or agricultural
property having a transaction value less than $250,000.
Sec. 4.
Minnesota Statutes 2005 Supplement, section 82B.13, subdivision 1, is
amended to read:
Subdivision 1.
deleted text begin Registereddeleted text end new text begin Traineenew text end real property appraiser or licensed real
property appraiser.
As a prerequisite for licensing as a deleted text begin registereddeleted text end new text begin traineenew text end real property
appraiser or licensed real property appraiser, an applicant must present evidence
satisfactory to the commissioner that the person has successfully completed at least 90
classroom hours of prelicense courses. The courses must consist of 75 hours of general
real estate appraisal principles and the 15-hour national USPAP course.
new text begin
(a) After January 1, 2008, a trainee real property appraiser applicant must present
evidence satisfactory to the commissioner that the person has successfully completed at
least 75 hours of prelicense courses approved by the commissioner.
new text end
new text begin
(b) After January 1, 2008, a licensed real property appraiser applicant must present
evidence satisfactory to the commissioner that the person has successfully completed at
least 150 hours of prelicense courses approved by the commissioner.
new text end
Sec. 5.
Minnesota Statutes 2005 Supplement, section 82B.13, subdivision 4, is
amended to read:
Subd. 4.
Certified residential real property appraiser.
As a prerequisite for
licensing as a certified residential real property appraiser, an applicant must present
evidence satisfactory to the commissioner that the person has successfully completed at
least 120 classroom hours of prelicense courses, with particular emphasis on the appraisal
of one to four unit residential properties. Fifteen of the 120 hours must include successful
completion of the 15-hour national USPAP course.
new text begin
After January 1, 2008, a certified residential real property appraiser applicant
must present evidence satisfactory to the commissioner that the person has successfully
completed:
new text end
new text begin
(1) 200 hours of prelicense courses approved by the commissioner; and
new text end
new text begin
(2) an associate degree from an accredited college or university. In lieu of the
required degree the applicant may present satisfactory documentation of completion of
21 semester credit hours from an accredited college or university covering the following
subject matter courses: English composition; principles of economics (micro or macro);
finance; algebra, geometry, or higher mathematics; statistics; introduction to computer
word processing/spreadsheets; and business or real estate law. If an applicant has
completed education requirements before January 1, 2008, no college degree is required.
new text end
Sec. 6.
Minnesota Statutes 2005 Supplement, section 82B.13, subdivision 5, is
amended to read:
Subd. 5.
Certified general real property appraiser.
As a prerequisite for
licensing as a certified general real property appraiser, an applicant must present evidence
satisfactory to the commissioner that the person has successfully completed at least 180
classroom hours of prelicense courses, with particular emphasis on the appraisal of
nonresidential properties. Fifteen of the 180 hours must include successful completion of
the 15-hour national USPAP course.
new text begin
After January 1, 2008, a certified general real property appraiser applicant must
present evidence satisfactory to the commissioner that the person has successfully
completed:
new text end
new text begin
(1) 300 hours of prelicense courses approved by the commissioner; and
new text end
new text begin
(2) a bachelor's degree from an accredited college or university. In lieu of the
required degree the applicant may present satisfactory documentation of completion of
30 semester credit hours from an accredited college or university covering the following
subject matters courses: English composition; micro economics; macro economics;
finance; algebra, geometry, or higher mathematics; statistics; introduction to computer
word processing/spreadsheets; business or real estate law; and two elective courses in
accounting, geography, ag-economics, business management, or real estate. If an applicant
has complete education requirements before January 1, 2008, no college degree is required.
new text end
Sec. 7.
Minnesota Statutes 2005 Supplement, section 82B.13, is amended by adding a
subdivision to read:
new text begin Subd. 6. new text end
new text begin All appraiser license levels. new text end
new text begin
The required course hours for all appraiser
license levels include completion of the 15-hour national USPAP course and specific core
curriculum courses and hours in accordance with the real property appraiser qualification
criteria as defined by the Appraisal Qualifications Board:
new text end
|
new text begin
Trainee new text end |
|
|
new text begin
Basic appraisal principles new text end |
new text begin
30 hours new text end |
|
new text begin
Basic appraisal procedures new text end |
new text begin
30 hours new text end |
|
new text begin
The 15-hour national USPAP course or its equivalent new text end |
new text begin
15 hours new text end |
|
new text begin
Trainee level total education requirements new text end |
new text begin
75 hours new text end |
|
new text begin
Licensed new text end |
|
|
new text begin
Basic appraisal principles new text end |
new text begin
30 hours new text end |
|
new text begin
Basic appraisal procedures new text end |
new text begin
30 hours new text end |
|
new text begin
The 15-hour national USPAP course or its equivalent new text end |
new text begin
15 hours new text end |
|
new text begin
Residential market analysis and highest and best use new text end |
new text begin
15 hours new text end |
|
new text begin
Residential appraiser site valuation and cost approach new text end |
new text begin
15 hours new text end |
|
new text begin
Residential sales comparison and income approaches new text end |
new text begin
30 hours new text end |
|
new text begin
Residential report writing and case studies new text end |
new text begin
15 hours new text end |
|
new text begin
Licensed level total education requirements new text end |
new text begin
150 hours new text end |
|
new text begin
Certified residential new text end |
|
|
new text begin
Basic appraisal principles new text end |
new text begin
30 hours new text end |
|
new text begin
Basic appraisal procedures new text end |
new text begin
30 hours new text end |
|
new text begin
The 15-hour national USPAP course or its equivalent new text end |
new text begin
15 hours new text end |
|
new text begin
Residential market analysis and highest and best use new text end |
new text begin
15 hours new text end |
|
new text begin
Residential appraiser site valuation and cost approach new text end |
new text begin
15 hours new text end |
|
new text begin
Residential sales comparison and income approaches new text end |
new text begin
30 hours new text end |
|
new text begin
Residential report writing and case studies new text end |
new text begin
15 hours new text end |
|
new text begin
Statistics, modeling, and finance new text end |
new text begin
15 hours new text end |
|
new text begin
Advanced residential applications and case studies new text end |
new text begin
15 hours new text end |
|
new text begin
Appraisal subject matter electives new text end |
new text begin
20 hours new text end |
|
new text begin
(May include hours over minimum shown above in other modules) new text end |
|
|
new text begin
Certified residential level total education requirements new text end |
new text begin
200 hours new text end |
|
new text begin
Certified general new text end |
|
|
new text begin
Basic appraisal principles new text end |
new text begin
30 hours new text end |
|
new text begin
Basic appraisal procedures new text end |
new text begin
30 hours new text end |
|
new text begin
The 15-hour national USPAP course or its equivalent new text end |
new text begin
15 hours new text end |
|
new text begin
General appraiser market analysis and highest and best use new text end |
new text begin
30 hours new text end |
|
new text begin
Statistics, modeling, and finance new text end |
new text begin
15 hours new text end |
|
new text begin
General appraiser sales comparison approach new text end |
new text begin
30 hours new text end |
|
new text begin
General appraiser site valuation and cost approach new text end |
new text begin
30 hours new text end |
|
new text begin
General appraiser income approach new text end |
new text begin
60 hours new text end |
|
new text begin
General appraiser report writing and case studies new text end |
new text begin
30 hours new text end |
|
new text begin
Appraisal subject matter electives new text end |
new text begin
30 hours new text end |
|
new text begin
(May include hours over minimum shown above in other modules) new text end |
|
|
new text begin
Certified general level total education requirements new text end |
new text begin
300 hours new text end |
Sec. 8.
Minnesota Statutes 2005 Supplement, section 82B.13, is amended by adding a
subdivision to read:
new text begin Subd. 7. new text end
new text begin Student tracking manual. new text end
new text begin
It is the responsibility of students to record
the qualifying education they have completed in a student tracking manual broken down
by required core curriculum modules and subtopics, and to maintain an orderly record of
education, experience, and other requirements.
new text end
Sec. 9.
Minnesota Statutes 2005 Supplement, section 82B.14, is amended to read:
82B.14 EXPERIENCE REQUIREMENT.
(a) As a prerequisite for licensing as a licensed real property appraiser, an applicant
must present evidence satisfactory to the commissioner that the person has obtained 2,000
hours of experience in real property appraisalnew text begin obtained in no fewer than 12 monthsnew text end .
As a prerequisite for licensing as a certified residential real property appraiser, an
applicant must present evidence satisfactory to the commissioner that the person has
obtained 2,500 hours of experience in real property appraisal obtained in no fewer than
24 months.
As a prerequisite for licensing as a certified general real property appraiser, an
applicant must present evidence satisfactory to the commissioner that the person has
obtained 3,000 hours of experience in real property appraisal obtained in no fewer than 30
months. At least 50 percent, or 1,500 hours, must be in nonresidential appraisal work.
(b) Each applicant for license under section 82B.11, subdivision 3, 4, or 5, shall
give under oath a detailed listing of the real estate appraisal reports or file memoranda
for which experience is claimed by the applicant. Upon request, the applicant shall make
available to the commissioner for examination, a sample of appraisal reports that the
applicant has prepared in the course of appraisal practice.
(c) Applicants may not receive credit for experience accumulated while unlicensed,
if the experience is based on activities which required a license under this section.
new text begin
(d) Experience for all classifications must be obtained after January 30, 1989, and
must be USPAP compliant.
new text end