Kentucky
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House Bill 355

Actions | Amendments
Last Action 04/10/26: Vetoed
Title AN ACT relating to real property appraisers.
Bill Documents Current
Introduced
Bill Request Number 83
Sponsors S. McPherson, G. Brown Jr., M. Pollock
Summary of Original Version Create a new section of KRS 324A.010 to 324A.100 to require actions against a certified or licensed real property appraiser to be brought within 1 year; amend various sections of KRS Chapter 324A to change "real estate appraisal" to "real property appraisal"; define "evaluation," "federally related transaction," and "real property-related financial transaction"; replace the Real Estate Appraisers Board with an independent agency to be known as the Real Property Appraisers Board; attach the Real Property Appraisers Board to the Department of Professional Licensing for administrative purposes; change the number of board members from 5 to 7; require 2 board members to be certified residential real property appraisers; require those employed by the board to investigate grievances to have 10 years of experience, hold a credential equal to the credential held by the appraiser under investigation, and have experience in appraising the type of property relevant to the investigation; allow the board to employ persons it deems necessary; allow the board to use hearing officers of the Attorney General's Office; allow the board or its authorized agents to give advice on best practices management; prohibit legal action arising from any advice given by the board or its agents relating to best practices management; prohibit any person not licensed or certified as a real property appraiser from providing any type of appraisal performed by a licensed or certified real property appraiser unless they are exempt; allow a licensed or certified real property appraiser to provide an evaluation; require a certificate or license holder to complete 28 hours of continuing education hours; allow hours completed for 1 USPAP update course to apply toward the continuing education requirement; require complaints to be filed with the board within 1 year after the date of transmittal of the appraisal report; establish a biennial license renewal period; increase initial application and renewal fees from $200 to $400; amend KRS 324B.045 to remove the Real Estate Appraisers Board from the Division of Real Property Boards; amend KRS 133.120 to allow a tax consultant and licensed real estate sales associate to receive compensation to represent a property owner at a conference with the property valuation administrator or in an appeal before the board; amend KRS 154.60-040, 198B.702, 324.085, 324A.035, 324A.050, 324A.088, 324A.100, 324A.150, 324A.152, 324A.158, 324A.162, 324A.164, 324B.030, 350.280, 413.140, 56.806, 56.8175, 56.823, 99.830, and 99.835 to conform.
Index Headings of Original Version Boards And Commissions - Real Estate Appraisers Board, reestablishment as Real Property Appraisers Board
Licensing - Real property appraisers, biennial licensure renewal
Occupations And Professions - Real appraisers, licensing, biennial renewal
Property - Real Appraisers Board, rename, independent agency
Real Estate - Real Estate Appraisers Board, reestablishment as Real Property Appraisers Board
State Agencies - Real Property Appraisers Board, independent agency
Jump to Proposed Amendments House Committee Substitute 1
Senate Committee Substitute 1
Votes Vote History
Governor's Veto Message Veto

Actions

Top | Amendments
01/13/26
  • introduced in House
  • to Committee on Committees (H)
01/21/26
  • to Licensing, Occupations, & Administrative Regulations (H)
01/22/26
  • reassigned to Banking & Insurance (H)
02/18/26
  • reported favorably, 1st reading, to Calendar with Committee Substitute (1)
02/19/26
  • 2nd reading, to Rules
02/23/26
  • posted for passage in the Regular Orders of the Day for Tuesday, February 24 2026
02/25/26
  • 3rd reading, passed 96-0 with Committee Substitute (1)
02/26/26
  • received in Senate
  • to Committee on Committees (S)
03/06/26
  • to Banking & Insurance (S)
03/10/26
  • reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1)
03/11/26
  • 2nd reading, to Rules as a consent bill
03/18/26
  • posted for passage in the Consent Orders of the Day for Thursday, March 19 2026
03/19/26
  • passed over and retained in the Consent Orders of the Day
03/20/26
  • 3rd reading, passed 37-0 with Committee Substitute (1)
  • received in House
  • to Rules (H)
03/27/26
  • posted for passage for concurrence in Senate Committee Substitute (1)
03/31/26
  • House concurred in Committee Substitute (1)
  • passed 96-0
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/10/26
  • Vetoed

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary Retain original provisions, except allow the board to refer violations to the Attorney General, Commonwealth's attorneys, and county attorneys rather than file actions directly; require actions against an appraisal management company to be brought within 1 year, and any actions for fraud or misrepresentation within 5 years; allow the board to employ an executive director; require an executive director to be a certified general or residential real property appraiser and have 10 years of experience in Kentucky; prohibit use of the title "real property damage appraiser" unless certified or licensed by the board; exempt a bank or banker that provides appraisals or appraisal reviews in the normal course of business, and a staff or independent adjuster licensed under KRS Chapter 304 or any other representative of an insurance company in the settlement of an insurance claim from KRS Chapter 324A; prohibit an appraiser from negotiating, or advertising to negotiate, on behalf of an insured on an insurance claim relating to real property; allow an appraiser to advocate for the accuracy of his or her appraisal report; require the board to establish fee amounts by administrative regulation; delete fee amounts set in statute and require an appraisal management company to certify that all appraisal reports meet the minimum reporting requirements in accordance with USPAP; make technical corrections.
Index Headings Banks And Financial Institutions - Appraisals, appraisal review, banking exemption
Boards And Commissions - Real Estate Appraisers Board, fees, administrative regulations
Fees - Real Estate Appraisers Board, fees, administrative regulations
Insurance - Real property appraisal, negotiation, claim settlement, adjuster exemption
Licensing - Real property appraisers, exemptions, banking, insurance
Occupations And Professions - Real property appraisers, licensing, executive director, appraisal management company
Property - Real Estate Appraisers Board, fees, administrative regulations
Property - Real property appraisers, exemptions, banking, insurance
Property - Real property appraisers, licensing, executive director, appraisal management company
Real Estate - Real Estate Appraisers Board, fees, administrative regulations
Real Estate - Real property appraisers, exemptions, banking, insurance
Real Estate - Real property appraisers, licensing, executive director, appraisal management company

Amendment Senate Committee Substitute 1
Summary Retain original provisions, except exempt farm credit institutions for appraisals or appraisal reviews in the normal course of business; retain the current members of the Real Estate Appraisers Board as memebers of the Real Property Appraisers Board until the expiration of their terms; require the Governor to appoint the 2 additional board members within 1 year of the effective date of this Act.
Index Headings Banks And Financial Institutions - Appraisals, appraisal review, farm credit system exemption
Boards And Commissions - Real Estate Appraisers Board, retention, appointments
Licensing - Real property appraisers, exemptions, farm credit system

Last updated: 4/13/2026 9:11 AM (EDT)