2022 Minnesota Statutes

82B.25 VALUATION BIAS.

Subdivision 1.Definition.

For the purposes of this section, "valuation bias" means to explicitly, implicitly, or structurally select and apply data to an appraisal methodology or technique in a biased manner that harms a protected class, as defined by the Fair Housing Act of 1968, as amended.

Subd. 2.Education.

A real property appraiser shall provide to the commissioner evidence of satisfactory completion of a continuing education course on the valuation bias of real property. An appraiser licensed after September 1, 2021, must complete the course required by this section prior to the appraiser's first license renewal.

History:

2021 c 16 s 10; 2022 c 87 s 3

NOTE: A real property appraiser who has received a license prior to September 1, 2021, must complete the course required by this section by August 31, 2023. Laws 2021, chapter 16, section 10, the effective date.