1.1 	A bill for an act
1.2 	relating to real estate appraisers; prohibiting actions to improperly influence the 
1.3 	integrity of a real estate appraisal; prescribing a criminal penalty;proposing 
1.4 	coding for new law in Minnesota Statutes, chapter 82B.
1.5 	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

1.6 	Section 1. [82B.25] APPRAISAL INDEPENDENCE.
1.7 		Subdivision 1.Interference with independent appraisal prohibited. No person 
1.8 	with an interest in a real estate transaction or the financing of any loan secured by 
1.9 	real estate involving an appraisal assignment shall improperly influence or attempt 
1.10 	to improperly influence the development, reporting, result, or review of a real estate 
1.11 	appraisal. This includes mortgage lenders, mortgage brokers or originators, appraisal 
1.12 	management companies, real estate brokers and salespersons, buyers, sellers, clients, 
1.13 	appraisers, and other individuals associated with the transaction. Prohibited acts include 
1.14 	blacklisting, boycotting, intimidation, coercion, extortion or bribery, and any other means 
1.15 	that impairs or may impair the independent judgment of the appraiser, including but not 
1.16 	limited to the withholding or threatened withholding of payment for an appraisal fee, or 
1.17 	the conditioning of the payment of any appraisal fee upon the opinion, conclusion, or 
1.18 	valuation to be reached, or a request that the appraiser report a predetermined opinion, 
1.19 	conclusion, or valuation, or the desired valuation of any person, or withholding or 
1.20 	threatening to withhold future work in order to obtain a desired value on a current or 
1.21 	proposed appraisal assignment. It is also a violation for a borrower to choose an appraiser 
1.22 	or to influence the lender in the choice of the appraiser, with the intent of improperly 
1.23 	influencing an appraiser to reach a specified or minimum value.
2.1 		Subd. 2.Penalties. (a) Violation of this section permits the commissioner to assess 
2.2 	fines, suspend or revoke the license, or assess other penalties suitable to the professional 
2.3 	license of the person influencing the appraiser.
2.4 	(b) A person who violates this section is guilty of a felony, punishable by a fine or 
2.5 	imprisonment.

2.6 	EFFECTIVE DATE. This section is effective August 1, 2008.