Bill Text: IA HF682 | 2021-2022 | 89th General Assembly | Enrolled
Bill Title: A bill for an act relating to the Iowa appraisal standards and appraiser certification law, making penalties applicable, and including applicability provisions. (Formerly HSB 176.) Effective date: 07/01/2021. Applicability date: 07/01/2021.
Spectrum: Committee Bill
Status: (Passed) 2021-06-08 - Signed by Governor. H.J. 1210. [HF682 Detail]
Download: Iowa-2021-HF682-Enrolled.html
House
File
682
-
Enrolled
House
File
682
AN
ACT
RELATING
TO
THE
IOWA
APPRAISAL
STANDARDS
AND
APPRAISER
CERTIFICATION
LAW,
MAKING
PENALTIES
APPLICABLE,
AND
INCLUDING
APPLICABILITY
PROVISIONS.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
543D.1,
Code
2021,
is
amended
to
read
as
follows:
543D.1
Short
title.
This
chapter
shall
be
known
and
may
be
cited
as
the
“Iowa
Voluntary
Appraisal
Standards
and
Appraiser
Certification
Law”
.
Sec.
2.
Section
543D.2,
Code
2021,
is
amended
by
adding
the
following
new
subsections:
NEW
SUBSECTION
.
4A.
“Appraisal
review”
means
developing
and
communicating
an
opinion
under
the
uniform
standards
of
professional
appraisal
practice
review
standards
regarding
the
quality
of
an
appraiser’s
work
product,
with
or
without
also
providing
an
opinion
of
value,
prepared
as
part
of
an
appraisal
assignment.
“Appraisal
review”
does
not
include
quality
control
solely
to
assure
an
appraisal
report
is
complete,
or
to
correct
grammatical,
typographical,
or
similar
errors.
House
File
682,
p.
2
NEW
SUBSECTION
.
8A.
“Federally
related
transaction”
means
any
financial
transaction
related
to
real
estate
which
a
federal
financial
institutions
regulatory
agency
engages
in,
contracts
for,
or
regulates,
and
which
requires
the
services
of
an
appraiser
pursuant
to
federally
related
transaction
regulations.
NEW
SUBSECTION
.
8B.
“Federally
related
transaction
regulations”
means
regulations
established
by
the
comptroller
of
the
currency,
the
board
of
governors
of
the
federal
reserve
system,
the
federal
deposit
insurance
corporation,
or
the
national
credit
union
administration
pursuant
to
sections
1112,
1113,
and
1114
of
Tit.
XI
of
the
federal
Financial
Institutions
Reform,
Recovery,
and
Enforcement
Act,
12
U.S.C.
§3341
–
3343.
Sec.
3.
Section
543D.2,
subsection
9,
Code
2021,
is
amended
to
read
as
follows:
9.
“Review
appraiser”
means
a
person
who
is
responsible
for
the
administrative
approval
of
the
appraised
value
of
real
property
or
assures
that
appraisal
reports
conform
to
the
requirements
of
law
and
policy,
or
that
the
value
of
real
property
estimated
by
appraisers
represents
adequate
security,
fair
market
value,
or
other
defined
value
conducting
an
appraisal
review
.
Sec.
4.
Section
543D.3,
Code
2021,
is
amended
to
read
as
follows:
543D.3
Purposes.
1.
The
purpose
of
this
chapter
is
to
establish
standards
for
real
estate
appraisals
and
a
procedure
for
the
mandatory
certification
of
real
estate
appraisers
performing
appraisals
for
federally
related
transactions,
the
voluntary
certification
of
real
estate
appraisers
performing
appraisals
not
related
to
federally
related
transactions,
and
the
mandatory
registration
of
associate
real
estate
appraisers.
1A.
A
person
who
performs
an
appraisal,
other
than
an
appraisal
review,
for
a
federally
related
transaction
as
it
relates
to
real
estate
located
in
this
state
must
be
a
certified
real
estate
appraiser
under
this
chapter
or
a
registered
associate
real
estate
appraiser
acting
under
the
direct
supervision
of
a
certified
real
estate
appraiser
if
the
services
of
a
certified
real
estate
appraiser
are
required
by
House
File
682,
p.
3
federal
law
or
regulation.
2.
A
person
who
is
not
a
certified
real
estate
appraiser
under
this
chapter
may
appraise
real
estate
for
compensation
if
certification
is
not
required
by
this
chapter
or
by
federal
or
state
law,
rule,
or
policy.
However,
an
employee
of
the
state
department
of
transportation
whose
duties
include
appraisals
of
property
pursuant
to
chapter
6B
must
be
a
certified
real
estate
appraiser
under
this
chapter
or
a
registered
associate
real
estate
appraiser
acting
under
the
direct
supervision
of
a
certified
real
estate
appraiser.
Notwithstanding
this
subsection,
in
connection
with
the
performance
of
an
appraisal
of
real
estate
located
in
this
state,
the
use
of
the
title
“certified
real
estate
appraiser”,
“associate
real
estate
appraiser”,
or
any
other
like
title,
including
a
title
that
suggests
an
individual
is
certified
under
the
laws
of
this
or
another
state,
shall
only
be
used
to
refer
to
or
by
individuals
who
hold
a
certificate
or
registration
under
this
chapter.
3.
An
employee
of
the
state
department
of
transportation
whose
duties
include
appraisals
of
property
pursuant
to
chapter
6B
must
be
a
certified
real
estate
appraiser
under
this
chapter
or
a
registered
associate
real
estate
appraiser
acting
under
the
direct
supervision
of
a
certified
real
estate
appraiser.
4.
A
person
who
is
not
a
certified
real
estate
appraiser
under
this
chapter
but
who
is
licensed
under
chapter
543B
may
be
compensated
in
the
course
of
business
for
providing
an
estimate
of
the
probable
selling
price
or
leasing
price
of
a
particular
parcel
of
real
estate
or
interest
in
real
estate
as
a
comparative
market
analysis
or
a
broker
price
opinion.
Such
a
comparative
market
analysis
or
broker
price
opinion
shall
not
be
considered
an
appraisal
for
purposes
of
this
chapter
and
shall
not
be
prepared
for
any
purpose
in
lieu
of
an
appraisal
when
an
appraisal
is
required
by
federal
or
state
law.
Sec.
5.
Section
543D.11,
Code
2021,
is
amended
to
read
as
follows:
543D.11
Certification
by
reciprocity.
1.
If,
in
the
determination
by
the
board,
another
state
is
deemed
to
have
substantially
equivalent
certification
requirements,
an
applicant
who
is
certified
under
the
laws
of
the
other
state
may
obtain
a
certificate
as
a
certified
real
House
File
682,
p.
4
estate
appraiser
upon
terms
and
conditions
as
determined
by
the
board.
2.
The
board
may
recognize
on
a
temporary
basis
the
certification
or
license
of
an
appraiser
issued
by
another
state,
including
where
the
property
to
be
appraised
is
part
of
a
federally
related
transaction.
An
appraiser
engaging
in
such
temporary
practice
shall
apply
for
and
obtain
a
temporary
practice
permit
from
the
board
before
performing
any
services
in
relation
to
an
appraisal,
is
subject
to
the
full
regulatory
jurisdiction
of
the
board,
and
is
governed
by
the
laws
and
rules
administered
by
the
board.
Sec.
6.
Section
543D.15,
subsection
1,
Code
2021,
is
amended
to
read
as
follows:
1.
a.
The
term
“certified
real
estate
appraiser”
title
“certified
real
estate
appraiser”,
“associate
real
estate
appraiser”,
or
any
other
like
title
shall
only
be
used
to
refer
to
individuals
who
hold
the
certificate
or
registration,
as
applicable,
and
shall
not
be
used
in
connection
with
or
as
part
of
the
name
or
signature
of
a
firm,
partnership,
corporation,
or
group,
or
in
a
manner
that
it
may
be
interpreted
as
referring
to
a
firm,
partnership,
corporation,
group,
other
business
entity,
or
anyone
other
than
an
individual
holder
of
the
certificate
or
registration
.
b.
In
connection
with
an
appraisal
assignment
performed
on
real
estate
located
in
this
state,
the
title
“certified
real
estate
appraiser”,
“associate
real
estate
appraiser”,
or
any
other
like
title,
including
a
title
that
suggests
an
individual
is
licensed
or
certified
under
the
laws
of
this
state
or
another
state,
shall
only
be
used
to
refer
to
individuals
who
hold
a
certificate
or
registration
under
this
chapter.
Sec.
7.
Section
543D.20,
subsection
5,
Code
2021,
is
amended
to
read
as
follows:
5.
Persons
who
appraise
real
estate
where
certification
is
not
required
by
this
chapter
or
by
federal
or
state
law,
rule,
or
policy,
and
who
are
not
assisting
a
certified
real
estate
appraiser
in
the
development
or
reporting
of
an
appraisal
assignment
that
is
required
by
this
chapter
,
or
by
federal
or
state
law,
rule,
or
policy
to
be
performed
by
a
certified
real
estate
appraiser,
are
not
required
to
register
with
the
House
File
682,
p.
5
board.
Notwithstanding
this
subsection,
in
connection
with
the
performance,
or
assistance
in
the
performance,
of
an
appraisal
of
real
estate
located
in
this
state,
the
use
of
the
title
“associate
real
estate
appraiser”
or
any
other
like
title,
including
a
title
that
suggests
an
individual
is
an
associate
real
estate
appraiser
under
the
laws
of
this
state
or
another
state,
shall
only
be
used
to
refer
to
individuals
who
hold
a
registration
under
this
chapter.
Sec.
8.
Section
543D.21,
subsection
4,
Code
2021,
is
amended
by
adding
the
following
new
paragraph:
NEW
PARAGRAPH
.
0a.
A
violation
of
section
543D.3,
subsections
1A,
2,
or
3.
Sec.
9.
Section
543D.21,
subsection
4,
paragraph
c,
Code
2021,
is
amended
to
read
as
follows:
c.
A
violation
of
section
543D.20,
subsection
1
or
5
.
Sec.
10.
Section
543D.22,
subsections
1
and
3,
Code
2021,
are
amended
to
read
as
follows:
1.
a.
The
Subject
to
paragraphs
“b”
and
“c”
,
the
board
may
require
a
national
criminal
history
check
through
the
federal
bureau
of
investigation
for
applicants
for
certification
or
registration,
or
for
persons
certified
or
registered
,
under
this
chapter
,
if
needed
for
credibility,
to
comply
with
federal
law
or
regulation,
or
the
policies
of
the
appraisal
qualification
board
of
the
appraisal
foundation.
The
board
may
alternatively
require
a
national
criminal
history
check
through
the
nationwide
mortgage
licensing
system
and
registry,
as
defined
in
section
535D.3
,
when
conducting
background
investigations
under
this
section,
if
authorized
by
applicable
federal
law
or
regulation.
b.
The
board
shall
not
require
a
national
criminal
history
check
through
the
federal
bureau
of
investigation
for
applicants
for
upgraded
certification
or
registration
if
the
applicant
applies
for
the
upgraded
certification
or
registration
within
twenty-four
months
following
the
date
the
applicant
obtained
their
original
certification
or
registration
under
this
chapter.
c.
By
signing
and
submitting
to
the
board
a
statement
declaring
that
there
have
been
no
changes
to
the
applicant’s
criminal
history
since
the
date
of
the
waiver
specified
House
File
682,
p.
6
in
subsection
4,
and
that
there
are
no
active
or
pending
complaints
in
any
state
against
the
applicant,
any
of
the
following
individuals
may
seek
a
waiver
of
the
board’s
requirement
to
undergo
a
national
criminal
history
check:
(1)
An
applicant
for
upgraded
certification
or
registration
who
obtained
their
original
certification
or
registration
under
this
chapter
more
than
twenty-four
months
prior
to
applying
for
the
upgraded
certification
or
registration.
(2)
An
applicant
for
upgraded
certification
applying
to
the
board
under
a
reciprocity
agreement.
3.
a.
The
Subject
to
paragraphs
“b”
and
“c”
,
the
board
may
also
request
and
obtain,
notwithstanding
section
692.2,
subsection
5
,
criminal
history
data
for
applicants,
certificate
holders,
and
registrants.
A
request
for
criminal
history
data
shall
be
submitted
to
the
department
of
public
safety,
division
of
criminal
investigation,
pursuant
to
section
692.2,
subsection
1
.
b.
The
board
shall
not
request
or
obtain
criminal
history
data
for
applicants
for
upgraded
certification
or
registration
if
the
applicant
applies
for
the
upgraded
certification
or
registration
within
twenty-four
months
following
the
date
the
applicant
obtained
their
original
certification
or
registration
under
this
chapter.
c.
By
signing
and
submitting
to
the
board
a
statement
declaring
that
there
have
been
no
changes
to
the
applicant’s
criminal
history
data
since
the
date
of
the
waiver
specified
in
subsection
4,
and
that
there
are
no
active
or
pending
complaints
in
any
state
against
the
applicant,
any
of
the
following
individuals
may
seek
a
waiver
of
the
board’s
request
to
obtain
criminal
history
data:
(1)
An
applicant
for
upgraded
certification
or
registration
who
obtained
their
original
certification
or
registration
under
this
chapter
more
than
twenty-four
months
prior
to
applying
for
the
upgraded
certification
or
registration.
(2)
An
applicant
for
upgraded
certification
applying
to
the
board
under
a
reciprocity
agreement.
Sec.
11.
APPLICABILITY.
The
following
applies
to
applications
for
original
certification
or
registration
and
renewal
certification
or
registration
that
are
submitted
to
the
House
File
682,
p.
7
real
estate
appraiser
examining
board
on
or
after
the
effective
date
of
this
Act:
The
section
of
this
Act
amending
section
543D.22.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
JAKE
CHAPMAN
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
682,
Eighty-ninth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2021
______________________________
KIM
REYNOLDS
Governor