Title 201 | Chapter 050 | Regulation 060E
201 KAR 50:060REG
A proposed version of this document exists.
STATEMENT OF EMERGENCY
201 KAR 50:060E
Pursuant to KRS 13A.190(1)(a)(2), KRS Chapter 324A, and 2026 Ky. Acts Ch. 172 this emergency administrative regulation is being promulgated to comply with the adoption of 2026 HB 355 which creates the Kentucky Real Property Appraisers Board (the “Board”) and requires the Board to establish by administrative regulation fee amounts for all fees required by KRS Chapter 324A and the fees for services provided by the board, which shall not exceed amounts necessary to generate sufficient funds to effectively carry out and enforce the Chapter. The Board shall establish and collect the following fees: initial application fee, examination fee, a biennial licensure fee, duplicate certificate fee, certificate correction fee, roster fee, returned check fee, prelicensure education course review fee, continuing education course review fee, and other fees as required to provide services.
The effective date of the Act requires that this emergency regulation be promulgated to ensure there is no delay in collecting fees and processing applications upon the effective date and therefore “[p]revent an imminent loss of federal or state funds” pursuant to KRS 13A.190(1)(a)(2). This emergency administrative regulation is temporary in nature and will be replaced by an ordinary administrative regulation as provided by KRS 13A.190. The ordinary regulation will be filed with this emergency regulation and will be identical.
TOM VEIT, Executive Director
ANDY BESHEAR, Governor
PUBLIC PROTECTION CABINET
Kentucky Real Property Appraisers Board
(New Emergency Administrative Regulation)
201 KAR 50:060E.Reciprocity.
Section 1.
Reciprocal Licensing Requirements for Applicants Licensed or Certified in Another State.(1)
An individual licensed or certified in another state to practice real property appraising, including certified residential, certified general, or licensed residential real property appraiser, may apply and obtain a Kentucky credential that is the same as the credential held by that individual in the other state through reciprocity if the appraiser licensing program of the other state:(a)
Complies with the provisions of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of Title XI Real Estate Appraisal Reform Amendments (12 U.S.C. §§ 3331-3351) as administered by the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC); and(b)
Meets or exceeds the board's credentialing requirements that exist at the time the Application for Reciprocity is submitted to the board.(2)
An individual holding a credential as a licensed residential, certified residential, or certified general appraiser in good standing in any jurisdiction shall be considered in compliance with current AQB Criteria if the individual has passed an AQB-approved examination for that credential.(3)
To obtain a Kentucky certification issued by the board, an out-of-state applicant shall:(a)
Complete the notarized Application for Reciprocity;(b)
Pay the fees set forth in 201 KAR 050:010 Section 1(1)(a) and (b).(c)
Be identified on the National Registry of the Appraisal Subcommittee as an active licensed or certified real property appraiser that currently conforms to the AQB Criteria;(d)
Not have received disciplinary action that limits or prohibits the applicant from the practice of real property appraising; and(e)
Not have lost a license to practice any profession by revocation, suspension, or voluntary surrender.(4)
The applicant for reciprocity shall indicate whether the applicant:(a)
Has had an application for certification or licensure as an appraiser denied by any agency within the Commonwealth or any other state, and if so, explain and submit with the application a copy of the denial notice;(b)
Has been reprimanded, fined, or had a license, certificate, or registration suspended, revoked, restricted, denied, or surrendered in the Commonwealth or in any other state, and if so, submit with the application:1.
A written explanation; and2.
A copy of any documentation describing the charges and action taken by the agency;(c)
Is the subject of any pending investigation, administrative sanction proceeding, hearing, trial, or similar action by any agency that granted or denied the license, certificate, or registration, and if so, submit with the application:1.
A written explanation; and2.
A copy of any documentation describing the charges;(d)
Has ever entered a plea of nolo contendere, been found guilty of, or been convicted of a felony, or within the last ten (10) years convicted of a misdemeanor, and if so, submit with the application:1.
An explanation of the offense;2.
The location of the proceedings; and3.
A copy of all final court documents identifying the charges and assessing the penalties;(e)
Is awaiting trial or sentencing in any criminal proceeding, and if so, submit with the application:1.
An explanation of the facts of the alleged offense; and2.
The location of the proceedings; and(f)
Has had any disciplinary action brought against him or her as a member of any professional organization or trade association, and if so, submit with the application:1.
An explanation of the action;2.
A copy of any document reflecting the allegations; and3.
The final action or decision if rendered.(5)
No provision of this administrative regulation shall be construed to prohibit the professional appraisal practice activities of any out-of-state certified appraiser who is performing the duties and responsibilities for, and while a direct full-time employee of, any entity of the United States government.Section 2.
Material incorporated by reference.(1)
"Application for Reciprocity," KRPAB Form 006, July 2026, is incorporated by reference.(2)
This material may be inspected, copied, or obtained, subject to applicable copyright law, at the Kentucky Real Property Appraisers Board, 500 Mero Street, Frankfort, Kentucky 40601, (502) 564-4000, Monday through Friday, 8 a.m. to 4:30 p.m. Eastern Time, and is available on the board website, krpab.ky.gov.201 KAR 050:060E
TOM VEIT, Executive Director
APPROVED BY AGENCY: July 15, 2026
FILED WITH LRC: July 15, 2026 at 11:47 a.m.
PUBLIC HEARING AND COMMENT PERIOD: A public hearing on this administrative regulation shall be held on August 31, 2026, at 1:00 P.M. Eastern Time at the Mayo-Underwood Building, Room 247CE, 500 Mero Street, Frankfort, Kentucky 40601. Individuals interested in being heard at this hearing shall notify this agency in writing by five workdays prior to the hearing, of their intent to attend. If no notification of intent to attend the hearing was received by that date, the hearing may be canceled. A transcript of the public hearing will not be made unless a written request for a transcript is made. If you do not wish to be heard at the public hearing, you may submit written comments on the proposed administrative regulation. Written comments shall be accepted through August 31, 2026. Send written notification of intent to be heard at the public hearing or written comments on the proposed administrative regulation to the contact person.
CONTACT PERSON: Name: Tom Veit, Title: Executive Director, Agency: Kentucky Real Property Appraisers Board Address: 500 Mero Street Phone Number: (502) 564-4000 (office) Fax: (502) 564-4818 Email: Tom.Veit@ky.gov Link to PPC public comment portal: https://ppc.ky.gov/reg_comment.aspx.
REGULATORY IMPACT ANALYSIS AND TIERING STATEMENT
Contact Person:
Tom Veit, Executive Director, Kentucky Real Property Appraisers Board Phone: (502) 564-4000 Email: Tom.Veit@ky.gov
Subject Headings:
Boards and Commissions, Real Estate, Licensing, Fees
(1) Provide a brief summary of:
(a) What this administrative regulation does:
This regulation establishes reciprocity requirements for applicants duly licensed in other states for reciprocal certification and licensure by the Kentucky Real Property Appraisers Board (“Board”).
(b) The necessity of this administrative regulation:
This regulation is necessary to establish requirements for reciprocal certification and licensure.
(c) How this administrative regulation conforms to the content of the authorizing statutes:
KRS 324A.075 provides, “If, in the determination by the board, another state is deemed to have substantially equivalent or greater certification or licensure requirements for real property appraisers, an applicant who is certified or licensed under the laws of another state seeking to practice in this state shall apply to obtain a certificate as a state certified or licensed real property appraiser in this state upon terms and conditions determined by the board.” KRS 324A.035 authorizes and requires the Board to promulgate administrative regulations for certification or licensure of appraisers who perform appraisals of real property.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation describes terms and conditions for reciprocity of certification and licensure.
(2) If this is an amendment to an existing administrative regulation, provide a brief summary of:
(a) How the amendment will change this existing administrative regulation:
Not applicable.
(b) The necessity of the amendment to this administrative regulation:
Not applicable.
(c) How the amendment conforms to the content of the authorizing statutes:
Not applicable.
(d) How the amendment will assist in the effective administration of the statutes:
Not applicable.
(3) Does this administrative regulation or amendment implement legislation from the previous five years?
Yes, this administrative regulation implements the following legislation enacted within the previous five years: H.B. 172, 2021 Ky. Acts ch. 21 (eff. June 29, 2021); H.B. 403, 2024 Ky. Acts ch. 182 (eff. July 15, 2024); and H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026).
(4) List the type and number of individuals, businesses, organizations, or state and local governments affected by this administrative regulation:
This administrative regulation will affect the 1,281 appraisers, 145 associate appraisers, 2 nonfederal appraisers, and the 99 appraisal management companies (“AMCs”) currently licensed by the Board, as well as all new applicants for licensure.
(5) Provide an analysis of how the entities identified in question (4) will be impacted by either the implementation of this administrative regulation, if new, or by the change, if it is an amendment, including:
(a) List the actions that each of the regulated entities identified in question (4) will have to take to comply with this administrative regulation or amendment:
Prospective applicants for reciprocal certification and licensure will need to follow the requirements set forth in this administrative regulation.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):
Prospective applicants for reciprocal certification and licensure will be required to pay the fees associated with their application and licensure.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (4):
Prospective applicants for reciprocal certification and licensure will be able to identify reciprocal requirements.
(6) Provide an estimate of how much it will cost the administrative body to implement this administrative regulation:
(a) Initially:
The initial costs associated with administering this administrative regulation are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
(b) On a continuing basis:
The continuing costs associated with administering this administrative regulation are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
(7) What is the source of the funding to be used for the implementation and enforcement of this administrative regulation or this amendment:
The Kentucky Real Property Appraisers Board was created by H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026) and has a provisional budget approved by the Board. This budget includes three employees who will implement and enforce this administrative regulation.
(8) Provide an assessment of whether an increase in fees or funding will be necessary to implement this administrative regulation, if new, or by the change if it is an amendment:
It is currently indeterminable whether an increase in fees or funding will be necessary to implement this administrative regulation because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
(9) State whether or not this administrative regulation establishes any fees or directly or indirectly increases any fees:
This administrative regulation does not establish any fees and neither directly nor indirectly increases any fees.
(10) TIERING: Is tiering applied?
(Explain why or why not): No, tiering is not applied because this administrative regulation applies equally to all individuals interested in applying for reciprocal certification or licensure.
FISCAL IMPACT STATEMENT
(1) Identify each state statute, federal statute, or federal regulation that requires or authorizes the action taken by the administrative regulation:
. KRS 324A.015, KRS 324A.020, KRS 324A.035, KRS 324A.075, KRS Chapter 324A, 12 U.S.C. § 3350
(2) State whether this administrative regulation is expressly authorized by an act of the General Assembly, and if so, identify the act:
This regulation is expressly authorized by the following acts of the Kentucky General Assembly: 1990 Ky. Acts ch. 383, sec. 2, effective July 13, 1990, as amended by 1992 Ky. Acts ch. 247, sec. 2, effective April 7, 1992, 2013 Ky. Acts ch. 46, sec. 8, effective June 25, 2013, 2017 Ky. Acts ch. 178, sec. 27, effective April 11, 2017, 2021 Ky. Acts ch. 21, sec. 1, effective June 29, 2021, 2024 Ky. Acts ch. 182, sec. 10, effective July 15, 2024, and 2026 Ky. Acts ch. 172, sec. 3, effective July 15, 2026; 1990 Ky. Acts ch. 383, sec. 3, effective July 13, 1990, as amended by 2017 Ky. Acts ch. 178, sec. 39, effective April 11, 2017, 2024 Ky. Acts ch. 182, sec. 11, effective July 15, 2024, and 2026 Ky. Acts ch. 172, sec. 4, effective July 15, 2026; 1990 Ky. Acts ch. 383, sec. 6, effective July 13, 1990, as amended by 1992 Ky. Acts ch. 247, sec. 4, effective April 7, 1992, 2013 Ky. Acts ch. 46, sec. 10, effective June 25, 2013, 2021 Ky. Acts ch. 21, sec. 2, effective June 29, 2021, and 2026 Ky. Acts ch. 172, sec. 17, effective July 15, 2026; and 1990 Ky. Acts ch. 383, sec. 14, effective July 13, 1990, as amended by 2013 Ky. Acts ch. 46, sec. 15, effective June 25, 2013.
(3)(a) Identify the promulgating agency and any other affected state units, parts, or divisions:
The Kentucky Real Property Appraisers Board (“Board”) is the agency responsible for implementing this regulation. No other divisions of state or local government entities should be affected.
(b) Estimate the following for each affected state unit, part, or division identified in (3)(a):
1. Expenditures:
For the first year:
The costs associated with administering this administrative regulation for the first year are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
For subsequent years:
The costs associated with administering this administrative regulation for subsequent years are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
2. Revenues:
For the first year:
The revenue generated by this administrative regulation for the first year is currently indeterminable because the number of licensees who will seek reciprocal licensure or certification under the Kentucky Real Property Appraisers Board has not yet been determined.
For subsequent years:
The revenue generated by this administrative regulation for subsequent years is currently indeterminable because the number of licensees who will seek reciprocal licensure or certification under the Kentucky Real Property Appraisers Board has not yet been determined.
3. Cost Savings:
For the first year:
There are no cost savings to administer this administrative regulation for the first year.
For subsequent years:
There are no cost savings to administer this administrative regulation for subsequent years.
(4)(a) Identify affected local entities (for example: cities, counties, fire departments, school districts):
None
(b) Estimate the following for each affected local entity identified in (4)(a):
1. Expenditures:
For the first year:
N/A
For subsequent years:
N/A
2. Revenues:
For the first year:
N/A
For subsequent years:
N/A
3. Cost Savings:
For the first year:
N/A
For subsequent years:
N/A
(5)(a) Identify any affected regulated entities not listed in (3)(a) or (4)(a):
N/A
(b) Estimate the following for each regulated entity identified in (5)(a):
1. Expenditures:
For the first year:
N/A
For subsequent years:
N/A
2. Revenues:
For the first year:
N/A
For subsequent years:
N/A
3. Cost Savings:
For the first year:
N/A
For subsequent years:
N/A
(6) Provide a narrative to explain the following for each entity identified in (3)(a), (4)(a), and (5)(a)
(a) Fiscal impact of this administrative regulation:
The Board will receive the fees as detailed in this administrative regulation and 201 KAR 050:010.
(b) Methodology and resources used to reach this conclusion:
Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.
(7) Explain, as it relates to the entities identified in (3)(a), (4)(a), and (5)(a):
(a) Whether this administrative regulation will have a "major economic impact", as defined by KRS 13A.010(14):
This administrative regulation is not anticipated to have a ma-jor economic impact as defined by KRS 13A.010(14).
(b) The methodology and resources used to reach this conclusion:
Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.
FEDERAL MANDATE ANALYSIS COMPARISON
(1) Federal statute or regulation constituting the federal mandate.
12 U.S.C. 3345, 12 U.S.C. 3347, 12 U.S.C. 3351
(2) State compliance standards.
KRS 324A.020, KRS 324A.035, KRS 324A.075
(3) Minimum or uniform standards contained in the federal mandate.
12 U.S.C. 3345, 12 U.S.C. 3347, 12 U.S.C. 3351
(4) Will this administrative regulation impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate?
This administrative regulation does not impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate.
(5) Justification for the imposition of the stricter standard, or additional or different responsibilities or requirements.
This administrative regulation does not impose a stricter standard, or additional or different responsibilities or requirements.
STATEMENT OF EMERGENCY
201 KAR 50:060E
Pursuant to KRS 13A.190(1)(a)(2), KRS Chapter 324A, and 2026 Ky. Acts Ch. 172 this emergency administrative regulation is being promulgated to comply with the adoption of 2026 HB 355 which creates the Kentucky Real Property Appraisers Board (the “Board”) and requires the Board to establish by administrative regulation fee amounts for all fees required by KRS Chapter 324A and the fees for services provided by the board, which shall not exceed amounts necessary to generate sufficient funds to effectively carry out and enforce the Chapter. The Board shall establish and collect the following fees: initial application fee, examination fee, a biennial licensure fee, duplicate certificate fee, certificate correction fee, roster fee, returned check fee, prelicensure education course review fee, continuing education course review fee, and other fees as required to provide services.
The effective date of the Act requires that this emergency regulation be promulgated to ensure there is no delay in collecting fees and processing applications upon the effective date and therefore “[p]revent an imminent loss of federal or state funds” pursuant to KRS 13A.190(1)(a)(2). This emergency administrative regulation is temporary in nature and will be replaced by an ordinary administrative regulation as provided by KRS 13A.190. The ordinary regulation will be filed with this emergency regulation and will be identical.
TOM VEIT, Executive Director
ANDY BESHEAR, Governor
PUBLIC PROTECTION CABINET
Kentucky Real Property Appraisers Board
(New Emergency Administrative Regulation)
201 KAR 50:060E.Reciprocity.
Section 1.
Reciprocal Licensing Requirements for Applicants Licensed or Certified in Another State.(1)
An individual licensed or certified in another state to practice real property appraising, including certified residential, certified general, or licensed residential real property appraiser, may apply and obtain a Kentucky credential that is the same as the credential held by that individual in the other state through reciprocity if the appraiser licensing program of the other state:(a)
Complies with the provisions of the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) of Title XI Real Estate Appraisal Reform Amendments (12 U.S.C. §§ 3331-3351) as administered by the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council (FFIEC); and(b)
Meets or exceeds the board's credentialing requirements that exist at the time the Application for Reciprocity is submitted to the board.(2)
An individual holding a credential as a licensed residential, certified residential, or certified general appraiser in good standing in any jurisdiction shall be considered in compliance with current AQB Criteria if the individual has passed an AQB-approved examination for that credential.(3)
To obtain a Kentucky certification issued by the board, an out-of-state applicant shall:(a)
Complete the notarized Application for Reciprocity;(b)
Pay the fees set forth in 201 KAR 050:010 Section 1(1)(a) and (b).(c)
Be identified on the National Registry of the Appraisal Subcommittee as an active licensed or certified real property appraiser that currently conforms to the AQB Criteria;(d)
Not have received disciplinary action that limits or prohibits the applicant from the practice of real property appraising; and(e)
Not have lost a license to practice any profession by revocation, suspension, or voluntary surrender.(4)
The applicant for reciprocity shall indicate whether the applicant:(a)
Has had an application for certification or licensure as an appraiser denied by any agency within the Commonwealth or any other state, and if so, explain and submit with the application a copy of the denial notice;(b)
Has been reprimanded, fined, or had a license, certificate, or registration suspended, revoked, restricted, denied, or surrendered in the Commonwealth or in any other state, and if so, submit with the application:1.
A written explanation; and2.
A copy of any documentation describing the charges and action taken by the agency;(c)
Is the subject of any pending investigation, administrative sanction proceeding, hearing, trial, or similar action by any agency that granted or denied the license, certificate, or registration, and if so, submit with the application:1.
A written explanation; and2.
A copy of any documentation describing the charges;(d)
Has ever entered a plea of nolo contendere, been found guilty of, or been convicted of a felony, or within the last ten (10) years convicted of a misdemeanor, and if so, submit with the application:1.
An explanation of the offense;2.
The location of the proceedings; and3.
A copy of all final court documents identifying the charges and assessing the penalties;(e)
Is awaiting trial or sentencing in any criminal proceeding, and if so, submit with the application:1.
An explanation of the facts of the alleged offense; and2.
The location of the proceedings; and(f)
Has had any disciplinary action brought against him or her as a member of any professional organization or trade association, and if so, submit with the application:1.
An explanation of the action;2.
A copy of any document reflecting the allegations; and3.
The final action or decision if rendered.(5)
No provision of this administrative regulation shall be construed to prohibit the professional appraisal practice activities of any out-of-state certified appraiser who is performing the duties and responsibilities for, and while a direct full-time employee of, any entity of the United States government.Section 2.
Material incorporated by reference.(1)
"Application for Reciprocity," KRPAB Form 006, July 2026, is incorporated by reference.(2)
This material may be inspected, copied, or obtained, subject to applicable copyright law, at the Kentucky Real Property Appraisers Board, 500 Mero Street, Frankfort, Kentucky 40601, (502) 564-4000, Monday through Friday, 8 a.m. to 4:30 p.m. Eastern Time, and is available on the board website, krpab.ky.gov.201 KAR 050:060E
TOM VEIT, Executive Director
APPROVED BY AGENCY: July 15, 2026
FILED WITH LRC: July 15, 2026 at 11:47 a.m.
PUBLIC HEARING AND COMMENT PERIOD: A public hearing on this administrative regulation shall be held on August 31, 2026, at 1:00 P.M. Eastern Time at the Mayo-Underwood Building, Room 247CE, 500 Mero Street, Frankfort, Kentucky 40601. Individuals interested in being heard at this hearing shall notify this agency in writing by five workdays prior to the hearing, of their intent to attend. If no notification of intent to attend the hearing was received by that date, the hearing may be canceled. A transcript of the public hearing will not be made unless a written request for a transcript is made. If you do not wish to be heard at the public hearing, you may submit written comments on the proposed administrative regulation. Written comments shall be accepted through August 31, 2026. Send written notification of intent to be heard at the public hearing or written comments on the proposed administrative regulation to the contact person.
CONTACT PERSON: Name: Tom Veit, Title: Executive Director, Agency: Kentucky Real Property Appraisers Board Address: 500 Mero Street Phone Number: (502) 564-4000 (office) Fax: (502) 564-4818 Email: Tom.Veit@ky.gov Link to PPC public comment portal: https://ppc.ky.gov/reg_comment.aspx.
REGULATORY IMPACT ANALYSIS AND TIERING STATEMENT
Contact Person:
Tom Veit, Executive Director, Kentucky Real Property Appraisers Board Phone: (502) 564-4000 Email: Tom.Veit@ky.gov
Subject Headings:
Boards and Commissions, Real Estate, Licensing, Fees
(1) Provide a brief summary of:
(a) What this administrative regulation does:
This regulation establishes reciprocity requirements for applicants duly licensed in other states for reciprocal certification and licensure by the Kentucky Real Property Appraisers Board (“Board”).
(b) The necessity of this administrative regulation:
This regulation is necessary to establish requirements for reciprocal certification and licensure.
(c) How this administrative regulation conforms to the content of the authorizing statutes:
KRS 324A.075 provides, “If, in the determination by the board, another state is deemed to have substantially equivalent or greater certification or licensure requirements for real property appraisers, an applicant who is certified or licensed under the laws of another state seeking to practice in this state shall apply to obtain a certificate as a state certified or licensed real property appraiser in this state upon terms and conditions determined by the board.” KRS 324A.035 authorizes and requires the Board to promulgate administrative regulations for certification or licensure of appraisers who perform appraisals of real property.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation describes terms and conditions for reciprocity of certification and licensure.
(2) If this is an amendment to an existing administrative regulation, provide a brief summary of:
(a) How the amendment will change this existing administrative regulation:
Not applicable.
(b) The necessity of the amendment to this administrative regulation:
Not applicable.
(c) How the amendment conforms to the content of the authorizing statutes:
Not applicable.
(d) How the amendment will assist in the effective administration of the statutes:
Not applicable.
(3) Does this administrative regulation or amendment implement legislation from the previous five years?
Yes, this administrative regulation implements the following legislation enacted within the previous five years: H.B. 172, 2021 Ky. Acts ch. 21 (eff. June 29, 2021); H.B. 403, 2024 Ky. Acts ch. 182 (eff. July 15, 2024); and H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026).
(4) List the type and number of individuals, businesses, organizations, or state and local governments affected by this administrative regulation:
This administrative regulation will affect the 1,281 appraisers, 145 associate appraisers, 2 nonfederal appraisers, and the 99 appraisal management companies (“AMCs”) currently licensed by the Board, as well as all new applicants for licensure.
(5) Provide an analysis of how the entities identified in question (4) will be impacted by either the implementation of this administrative regulation, if new, or by the change, if it is an amendment, including:
(a) List the actions that each of the regulated entities identified in question (4) will have to take to comply with this administrative regulation or amendment:
Prospective applicants for reciprocal certification and licensure will need to follow the requirements set forth in this administrative regulation.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):
Prospective applicants for reciprocal certification and licensure will be required to pay the fees associated with their application and licensure.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (4):
Prospective applicants for reciprocal certification and licensure will be able to identify reciprocal requirements.
(6) Provide an estimate of how much it will cost the administrative body to implement this administrative regulation:
(a) Initially:
The initial costs associated with administering this administrative regulation are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
(b) On a continuing basis:
The continuing costs associated with administering this administrative regulation are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
(7) What is the source of the funding to be used for the implementation and enforcement of this administrative regulation or this amendment:
The Kentucky Real Property Appraisers Board was created by H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026) and has a provisional budget approved by the Board. This budget includes three employees who will implement and enforce this administrative regulation.
(8) Provide an assessment of whether an increase in fees or funding will be necessary to implement this administrative regulation, if new, or by the change if it is an amendment:
It is currently indeterminable whether an increase in fees or funding will be necessary to implement this administrative regulation because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
(9) State whether or not this administrative regulation establishes any fees or directly or indirectly increases any fees:
This administrative regulation does not establish any fees and neither directly nor indirectly increases any fees.
(10) TIERING: Is tiering applied?
(Explain why or why not): No, tiering is not applied because this administrative regulation applies equally to all individuals interested in applying for reciprocal certification or licensure.
FISCAL IMPACT STATEMENT
(1) Identify each state statute, federal statute, or federal regulation that requires or authorizes the action taken by the administrative regulation:
. KRS 324A.015, KRS 324A.020, KRS 324A.035, KRS 324A.075, KRS Chapter 324A, 12 U.S.C. § 3350
(2) State whether this administrative regulation is expressly authorized by an act of the General Assembly, and if so, identify the act:
This regulation is expressly authorized by the following acts of the Kentucky General Assembly: 1990 Ky. Acts ch. 383, sec. 2, effective July 13, 1990, as amended by 1992 Ky. Acts ch. 247, sec. 2, effective April 7, 1992, 2013 Ky. Acts ch. 46, sec. 8, effective June 25, 2013, 2017 Ky. Acts ch. 178, sec. 27, effective April 11, 2017, 2021 Ky. Acts ch. 21, sec. 1, effective June 29, 2021, 2024 Ky. Acts ch. 182, sec. 10, effective July 15, 2024, and 2026 Ky. Acts ch. 172, sec. 3, effective July 15, 2026; 1990 Ky. Acts ch. 383, sec. 3, effective July 13, 1990, as amended by 2017 Ky. Acts ch. 178, sec. 39, effective April 11, 2017, 2024 Ky. Acts ch. 182, sec. 11, effective July 15, 2024, and 2026 Ky. Acts ch. 172, sec. 4, effective July 15, 2026; 1990 Ky. Acts ch. 383, sec. 6, effective July 13, 1990, as amended by 1992 Ky. Acts ch. 247, sec. 4, effective April 7, 1992, 2013 Ky. Acts ch. 46, sec. 10, effective June 25, 2013, 2021 Ky. Acts ch. 21, sec. 2, effective June 29, 2021, and 2026 Ky. Acts ch. 172, sec. 17, effective July 15, 2026; and 1990 Ky. Acts ch. 383, sec. 14, effective July 13, 1990, as amended by 2013 Ky. Acts ch. 46, sec. 15, effective June 25, 2013.
(3)(a) Identify the promulgating agency and any other affected state units, parts, or divisions:
The Kentucky Real Property Appraisers Board (“Board”) is the agency responsible for implementing this regulation. No other divisions of state or local government entities should be affected.
(b) Estimate the following for each affected state unit, part, or division identified in (3)(a):
1. Expenditures:
For the first year:
The costs associated with administering this administrative regulation for the first year are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
For subsequent years:
The costs associated with administering this administrative regulation for subsequent years are currently indeterminable because the staffing needs and timing of personnel hires for the newly created Kentucky Real Property Appraisers Board, established H.B. 355, 2026 Ky. Acts ch. 172 (eff. July 15, 2026), have not yet been determined.
2. Revenues:
For the first year:
The revenue generated by this administrative regulation for the first year is currently indeterminable because the number of licensees who will seek reciprocal licensure or certification under the Kentucky Real Property Appraisers Board has not yet been determined.
For subsequent years:
The revenue generated by this administrative regulation for subsequent years is currently indeterminable because the number of licensees who will seek reciprocal licensure or certification under the Kentucky Real Property Appraisers Board has not yet been determined.
3. Cost Savings:
For the first year:
There are no cost savings to administer this administrative regulation for the first year.
For subsequent years:
There are no cost savings to administer this administrative regulation for subsequent years.
(4)(a) Identify affected local entities (for example: cities, counties, fire departments, school districts):
None
(b) Estimate the following for each affected local entity identified in (4)(a):
1. Expenditures:
For the first year:
N/A
For subsequent years:
N/A
2. Revenues:
For the first year:
N/A
For subsequent years:
N/A
3. Cost Savings:
For the first year:
N/A
For subsequent years:
N/A
(5)(a) Identify any affected regulated entities not listed in (3)(a) or (4)(a):
N/A
(b) Estimate the following for each regulated entity identified in (5)(a):
1. Expenditures:
For the first year:
N/A
For subsequent years:
N/A
2. Revenues:
For the first year:
N/A
For subsequent years:
N/A
3. Cost Savings:
For the first year:
N/A
For subsequent years:
N/A
(6) Provide a narrative to explain the following for each entity identified in (3)(a), (4)(a), and (5)(a)
(a) Fiscal impact of this administrative regulation:
The Board will receive the fees as detailed in this administrative regulation and 201 KAR 050:010.
(b) Methodology and resources used to reach this conclusion:
Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.
(7) Explain, as it relates to the entities identified in (3)(a), (4)(a), and (5)(a):
(a) Whether this administrative regulation will have a "major economic impact", as defined by KRS 13A.010(14):
This administrative regulation is not anticipated to have a ma-jor economic impact as defined by KRS 13A.010(14).
(b) The methodology and resources used to reach this conclusion:
Methodology and resources used are the fiscal department within the Public Protection Cabinet, Division of Real Property Boards.
FEDERAL MANDATE ANALYSIS COMPARISON
(1) Federal statute or regulation constituting the federal mandate.
12 U.S.C. 3345, 12 U.S.C. 3347, 12 U.S.C. 3351
(2) State compliance standards.
KRS 324A.020, KRS 324A.035, KRS 324A.075
(3) Minimum or uniform standards contained in the federal mandate.
12 U.S.C. 3345, 12 U.S.C. 3347, 12 U.S.C. 3351
(4) Will this administrative regulation impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate?
This administrative regulation does not impose stricter requirements, or additional or different responsibilities or requirements, than those required by the federal mandate.
(5) Justification for the imposition of the stricter standard, or additional or different responsibilities or requirements.
This administrative regulation does not impose a stricter standard, or additional or different responsibilities or requirements.