Title 201 | Chapter 050 | Regulation 090REG
PROPOSED
This document is not yet current.
PUBLIC PROTECTION CABINET
Kentucky Real Property Appraisers Board
(New Administrative Regulation)
201 KAR 50:090.Supervision of associates.
Section 1.
Associate real property appraiser credit for experience, scope of practice, and prerequisites for beginning training.(1)
All associate real property appraisers must be supervised by a supervisory appraiser to receive credit toward the experience requirements set forth in 201 KAR 050:040.(2)
An associate real property appraiser shall attend a Kentucky-specific seven (7) hour board-approved course in supervision practices prior to beginning training. The course shall comply with the specifications for course content established by the AQB regarding the requirements and responsibilities of supervisory appraisers and their supervisees.(3)
To continue receiving experience for credit toward the experience requirements set forth in 201 KAR 050:040, an associate real property appraiser shall attend the Kentucky-specific seven (7) hour board-approved course in supervision practices every three (3) years.(4)
The board-approved course in subsections (2) and (3) of this section shall not be eligible for education required by 201 KAR 050:030 Section 5 for licensure as an associate real property appraiser.(5)
An associate real property appraiser may have more than one supervisory appraiser.Section 2.
Supervisory appraiser eligibility requirements.(1)
To be eligible to serve as the supervisor of an associate real property appraiser, a certified residential real property appraiser or certified general real property appraiser shall:(a)
Have been a state certified real property appraiser for a period of at least three (3) years;(b)
Be in good standing and shall not have received a suspension, a revocation, or other sanction that limited or prohibited that individual's practice of real property appraising within the three (3) year period immediately prior to applying to become a supervising appraiser;(c)
Be responsible for the training and supervision of the associate real property appraiser; and(d)
Shall not be employed by an associate real property appraiser or by a company, firm, or partnership in which the associate real property appraiser has a controlling interest.(2)
A certified general real property appraiser or a certified residential real property appraiser who satisfies the requirements of a supervisory appraiser in subsection (1) of this section may supervise a person for experience credit toward a Certified Residential Real Property Appraiser certificate.(3)
Only a certified general real property appraiser who satisfies the requirements of a supervisory appraiser in subsection (1) of this section may supervise a person for experience credit toward a Certified General Real Property Appraiser certificate.(4)
An individual who holds the credential of licensed residential real property appraiser or its equivalent shall not be eligible to serve as a supervisory appraiser.(5)
A supervisory appraiser shall attend a Kentucky-specific seven (7) hour board-approved course in supervision practices prior to beginning supervision. The course shall comply with the specifications for course content established by the AQB regarding the requirements and responsibilities of supervisory appraisers and their supervisees.(6)
To remain eligible to provide supervision, a supervisory appraiser shall attend the board- approved course in supervision practices every three (3) years.Section 3.
How to apply to become a supervisory appraiser.(1)
To apply for approval to serve as a supervisory appraiser, an individual meeting the requirements of Section 2 of this regulation shall submit a Supervisory Appraiser Application to the board.(2)
The board shall approve an application for supervisory appraiser if the applicant meets the requirements of Section 2 of this regulation.(3)
A supervisory appraiser shall not commence supervision until receiving notice of board approval.Section 4.
Duties of a supervisory appraiser.(1)
A supervisory appraiser shall:(a)
Review all appraisal reports prepared by the supervisee associate real property appraiser;(b)
Accompany the supervisee associate real property appraiser on all inspections, inspect each appraised property and the comparable sales on the supervisee's appraisal assignments, until the supervisee:1.
Is competent to conduct inspections independently;2.
Has met all specific requirements pertaining to property inspection established by KRS Chapter 324A and 201 KAR Chapter 050; and3.
The supervisory appraiser ensures the supervisee is acting in accordance with the competency provision of the Uniform Standards of Professional Appraisal Practice for the property type being appraised; and(c)
Accept responsibility for an appraisal report completed by the supervisee associate real property appraiser by signing the appraisal report and certifying that the appraisal report is in compliance with the Uniform Standards of Professional Appraisal Practice.(2)
A supervisory appraiser shall not supervise more than three (3) associate real property appraisers at a time, except as in (3) of this section.(3)
A supervisory appraiser may apply to the board for permission to supervise one or more additional associate real property appraisers, provided:(a)
The supervisory appraiser submits a written plan of supervision to describe how the supervisory appraiser will adequately supervise additional associate real property appraisers; and(b)
The board approves the written plan of supervision.Section 5.
Appraisal log and general requirements for supervision.(1)
An associate real property appraiser shall maintain an appraisal log for each supervisory appraiser of the associate real property appraiser.(2)
An appraisal log shall be maintained on the Appraisal Log form provided by the board.(3)
The appraisal log shall include:(a)
Type of property;(b)
Date of appraisal report;(c)
Address of appraised property;(d)
Description of work performed by the associate real property appraiser and scope of the review and supervision of the supervisory appraiser;(e)
Number of actual work hours by the associate real property appraiser on the assignment; and(f)
The signature and the credential number and state of the supervisory appraiser.(4)
Both supervisory appraisers and associate real property appraisers must ensure the accuracy, currentness, and compliance of an Appraisal Log with this administrative regulation.(5)
The associate real property appraiser, as well as the supervisory appraiser, shall be entitled to obtain copies of appraisal reports and shall be permitted to access work files for appraisals in which the associate real property appraiser participated, in accordance with the recordkeeping rule of the USPAP.Section 6.
Termination of supervision.(1)
An associate real property appraiser shall, within five (5) business days, notify the board and each supervisory appraiser in writing of the termination of a supervision relationship.(2)
A supervisory appraiser shall, within five (5) business days, notify the board and each associate real property appraiser in writing of the termination of a supervision relationship.Section 7.
Revocation of supervisory appraiser status.(1)
The board may revoke supervisor appraiser status if:(a)
A supervisory appraiser fails to comply with the requirements of this regulation; or(b)
A supervisory appraiser has been disciplined by the board under KRS 324A.050 and 201 KAR 050:160.(2)
If the board seeks to revoke supervisory appraiser status, it shall issue a notice to the supervisory appraiser with the opportunity for a supervisory appraiser to request an administrative hearing pursuant to KRS Chapter 13B within thirty (30) days of receipt of the notice.(3)
Revocation of supervisory status shall be effective on the later of:(a)
Thirty (30) days after the board issues a notice; or(b)
If a request for an administrative hearing is filed with the board, the date of the final order of the Kentucky Real Property Appraisers Board to KRS 13B.120.Section 8.
Incorporation by Reference.(1)
The following material is incorporated by reference:(a)
"Supervisory Appraiser Application," KRPAB Form 008, July 2026; and(b)
"Appraisal Log," KRPAB Form 009, July 2026.(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 050:090
TOM VEIT, 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 September 30, 2026, at 1:00 P.M. Eastern Time at the Mayo-Underwood Building, Room 133CE, 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 September 30, 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 requirements for the associates and supervisors of associates licensed by the Kentucky Real Property Appraisers Board (“Board”).
(b) The necessity of this administrative regulation:
This regulation is necessary to establish standards for associates and supervision of associates in accordance with federal requirements for state boards that license or certify appraisers for federally related transactions.
(c) How this administrative regulation conforms to the content of the authorizing statutes:
Under KRS 324A.035, “Requirements established by the board relating to appraisers of federally related transactions shall not exceed the minimum requirements established by federal law or regulation.” Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. § 3331 through 12 U.S.C. § 3351) requires a state appraiser program to adopt or implement the minimum requirements for supervisory appraisers set forth in the Real Property Appraiser Qualification Criteria of the Appraiser Qualifications Board of the Appraisal Foundation. KRS 324A.035(3)(d) requires the board to establish by administrative regulations requirements for professional appraisal practice including standards for experience.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation will assist the Board in effective oversight of associates and supervision of associates.
(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:
Current associate real property appraisers and supervisory appraisers will need to understand and abide by the provisions of this regulation.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):
Associate real property appraisers will need to pay costs associated with education as required in this regulation.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (4):
Associate real property appraisers and supervisory appraisers will have clear guidelines in conformity with federal 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 established 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 supervisors and associates.
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 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 administrative regulation is expressly authorized by the following acts of the Kentucky General Assembly: created by 1990 Ky. Acts ch. 383, secs. 2, 3, and 6, effective July 13, 1990, and subsequently amended by 1992 Ky. Acts ch. 247, secs. 2 and 4, effective April 7, 1992; 2013 Ky. Acts ch. 46, secs. 8 and 10, effective June 25, 2013; 2017 Ky. Acts ch. 178, secs. 27 and 39, effective April 11, 2017; 2021 Ky. Acts ch. 21, secs. 1 and 2, effective June 29, 2021; 2024 Ky. Acts ch. 182, secs. 10 and 11, effective July 15, 2024; and 2026 Ky. Acts ch. 172, secs. 4 and 17, effective July 15, 2026.
(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:
This administrative regulation is not intended to generate revenue for any state or local government agency for the first year.
For subsequent years:
This administrative regulation is not intended to generate revenue for any state or local government agency for subsequent years.
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:
This administrative regulation is not anticipated to have a fiscal impact.
(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 major 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
(2) State compliance standards.
KRS 324A.020, KRS 324A.035
(3) Minimum or uniform standards contained in the federal mandate.
12 U.S.C. 3345, 12 U.S.C. 3347
(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.
PUBLIC PROTECTION CABINET
Kentucky Real Property Appraisers Board
(New Administrative Regulation)
201 KAR 50:090.Supervision of associates.
Section 1.
Associate real property appraiser credit for experience, scope of practice, and prerequisites for beginning training.(1)
All associate real property appraisers must be supervised by a supervisory appraiser to receive credit toward the experience requirements set forth in 201 KAR 050:040.(2)
An associate real property appraiser shall attend a Kentucky-specific seven (7) hour board-approved course in supervision practices prior to beginning training. The course shall comply with the specifications for course content established by the AQB regarding the requirements and responsibilities of supervisory appraisers and their supervisees.(3)
To continue receiving experience for credit toward the experience requirements set forth in 201 KAR 050:040, an associate real property appraiser shall attend the Kentucky-specific seven (7) hour board-approved course in supervision practices every three (3) years.(4)
The board-approved course in subsections (2) and (3) of this section shall not be eligible for education required by 201 KAR 050:030 Section 5 for licensure as an associate real property appraiser.(5)
An associate real property appraiser may have more than one supervisory appraiser.Section 2.
Supervisory appraiser eligibility requirements.(1)
To be eligible to serve as the supervisor of an associate real property appraiser, a certified residential real property appraiser or certified general real property appraiser shall:(a)
Have been a state certified real property appraiser for a period of at least three (3) years;(b)
Be in good standing and shall not have received a suspension, a revocation, or other sanction that limited or prohibited that individual's practice of real property appraising within the three (3) year period immediately prior to applying to become a supervising appraiser;(c)
Be responsible for the training and supervision of the associate real property appraiser; and(d)
Shall not be employed by an associate real property appraiser or by a company, firm, or partnership in which the associate real property appraiser has a controlling interest.(2)
A certified general real property appraiser or a certified residential real property appraiser who satisfies the requirements of a supervisory appraiser in subsection (1) of this section may supervise a person for experience credit toward a Certified Residential Real Property Appraiser certificate.(3)
Only a certified general real property appraiser who satisfies the requirements of a supervisory appraiser in subsection (1) of this section may supervise a person for experience credit toward a Certified General Real Property Appraiser certificate.(4)
An individual who holds the credential of licensed residential real property appraiser or its equivalent shall not be eligible to serve as a supervisory appraiser.(5)
A supervisory appraiser shall attend a Kentucky-specific seven (7) hour board-approved course in supervision practices prior to beginning supervision. The course shall comply with the specifications for course content established by the AQB regarding the requirements and responsibilities of supervisory appraisers and their supervisees.(6)
To remain eligible to provide supervision, a supervisory appraiser shall attend the board- approved course in supervision practices every three (3) years.Section 3.
How to apply to become a supervisory appraiser.(1)
To apply for approval to serve as a supervisory appraiser, an individual meeting the requirements of Section 2 of this regulation shall submit a Supervisory Appraiser Application to the board.(2)
The board shall approve an application for supervisory appraiser if the applicant meets the requirements of Section 2 of this regulation.(3)
A supervisory appraiser shall not commence supervision until receiving notice of board approval.Section 4.
Duties of a supervisory appraiser.(1)
A supervisory appraiser shall:(a)
Review all appraisal reports prepared by the supervisee associate real property appraiser;(b)
Accompany the supervisee associate real property appraiser on all inspections, inspect each appraised property and the comparable sales on the supervisee's appraisal assignments, until the supervisee:1.
Is competent to conduct inspections independently;2.
Has met all specific requirements pertaining to property inspection established by KRS Chapter 324A and 201 KAR Chapter 050; and3.
The supervisory appraiser ensures the supervisee is acting in accordance with the competency provision of the Uniform Standards of Professional Appraisal Practice for the property type being appraised; and(c)
Accept responsibility for an appraisal report completed by the supervisee associate real property appraiser by signing the appraisal report and certifying that the appraisal report is in compliance with the Uniform Standards of Professional Appraisal Practice.(2)
A supervisory appraiser shall not supervise more than three (3) associate real property appraisers at a time, except as in (3) of this section.(3)
A supervisory appraiser may apply to the board for permission to supervise one or more additional associate real property appraisers, provided:(a)
The supervisory appraiser submits a written plan of supervision to describe how the supervisory appraiser will adequately supervise additional associate real property appraisers; and(b)
The board approves the written plan of supervision.Section 5.
Appraisal log and general requirements for supervision.(1)
An associate real property appraiser shall maintain an appraisal log for each supervisory appraiser of the associate real property appraiser.(2)
An appraisal log shall be maintained on the Appraisal Log form provided by the board.(3)
The appraisal log shall include:(a)
Type of property;(b)
Date of appraisal report;(c)
Address of appraised property;(d)
Description of work performed by the associate real property appraiser and scope of the review and supervision of the supervisory appraiser;(e)
Number of actual work hours by the associate real property appraiser on the assignment; and(f)
The signature and the credential number and state of the supervisory appraiser.(4)
Both supervisory appraisers and associate real property appraisers must ensure the accuracy, currentness, and compliance of an Appraisal Log with this administrative regulation.(5)
The associate real property appraiser, as well as the supervisory appraiser, shall be entitled to obtain copies of appraisal reports and shall be permitted to access work files for appraisals in which the associate real property appraiser participated, in accordance with the recordkeeping rule of the USPAP.Section 6.
Termination of supervision.(1)
An associate real property appraiser shall, within five (5) business days, notify the board and each supervisory appraiser in writing of the termination of a supervision relationship.(2)
A supervisory appraiser shall, within five (5) business days, notify the board and each associate real property appraiser in writing of the termination of a supervision relationship.Section 7.
Revocation of supervisory appraiser status.(1)
The board may revoke supervisor appraiser status if:(a)
A supervisory appraiser fails to comply with the requirements of this regulation; or(b)
A supervisory appraiser has been disciplined by the board under KRS 324A.050 and 201 KAR 050:160.(2)
If the board seeks to revoke supervisory appraiser status, it shall issue a notice to the supervisory appraiser with the opportunity for a supervisory appraiser to request an administrative hearing pursuant to KRS Chapter 13B within thirty (30) days of receipt of the notice.(3)
Revocation of supervisory status shall be effective on the later of:(a)
Thirty (30) days after the board issues a notice; or(b)
If a request for an administrative hearing is filed with the board, the date of the final order of the Kentucky Real Property Appraisers Board to KRS 13B.120.Section 8.
Incorporation by Reference.(1)
The following material is incorporated by reference:(a)
"Supervisory Appraiser Application," KRPAB Form 008, July 2026; and(b)
"Appraisal Log," KRPAB Form 009, July 2026.(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 050:090
TOM VEIT, 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 September 30, 2026, at 1:00 P.M. Eastern Time at the Mayo-Underwood Building, Room 133CE, 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 September 30, 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 requirements for the associates and supervisors of associates licensed by the Kentucky Real Property Appraisers Board (“Board”).
(b) The necessity of this administrative regulation:
This regulation is necessary to establish standards for associates and supervision of associates in accordance with federal requirements for state boards that license or certify appraisers for federally related transactions.
(c) How this administrative regulation conforms to the content of the authorizing statutes:
Under KRS 324A.035, “Requirements established by the board relating to appraisers of federally related transactions shall not exceed the minimum requirements established by federal law or regulation.” Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C. § 3331 through 12 U.S.C. § 3351) requires a state appraiser program to adopt or implement the minimum requirements for supervisory appraisers set forth in the Real Property Appraiser Qualification Criteria of the Appraiser Qualifications Board of the Appraisal Foundation. KRS 324A.035(3)(d) requires the board to establish by administrative regulations requirements for professional appraisal practice including standards for experience.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation will assist the Board in effective oversight of associates and supervision of associates.
(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:
Current associate real property appraisers and supervisory appraisers will need to understand and abide by the provisions of this regulation.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):
Associate real property appraisers will need to pay costs associated with education as required in this regulation.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (4):
Associate real property appraisers and supervisory appraisers will have clear guidelines in conformity with federal 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 established 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 supervisors and associates.
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 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 administrative regulation is expressly authorized by the following acts of the Kentucky General Assembly: created by 1990 Ky. Acts ch. 383, secs. 2, 3, and 6, effective July 13, 1990, and subsequently amended by 1992 Ky. Acts ch. 247, secs. 2 and 4, effective April 7, 1992; 2013 Ky. Acts ch. 46, secs. 8 and 10, effective June 25, 2013; 2017 Ky. Acts ch. 178, secs. 27 and 39, effective April 11, 2017; 2021 Ky. Acts ch. 21, secs. 1 and 2, effective June 29, 2021; 2024 Ky. Acts ch. 182, secs. 10 and 11, effective July 15, 2024; and 2026 Ky. Acts ch. 172, secs. 4 and 17, effective July 15, 2026.
(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:
This administrative regulation is not intended to generate revenue for any state or local government agency for the first year.
For subsequent years:
This administrative regulation is not intended to generate revenue for any state or local government agency for subsequent years.
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:
This administrative regulation is not anticipated to have a fiscal impact.
(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 major 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
(2) State compliance standards.
KRS 324A.020, KRS 324A.035
(3) Minimum or uniform standards contained in the federal mandate.
12 U.S.C. 3345, 12 U.S.C. 3347
(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.