Title 201 | Chapter 050 | Regulation 140REG
PROPOSED
This document is not yet current.
PUBLIC PROTECTION CABINET
Kentucky Real Property Appraisers Board
(New Administrative Regulation)
201 KAR 50:140.Education course approval, renewal, and standards.
Section 1.
Types of education courses for appraisers.(1)
Qualifying education courses are prelicensure education courses designed to meet the qualifying education requirements for a credential issued by the board under 201 KAR 050:030.(2)
Continuing education courses are post-licensure education courses designed to meet the continuing education requirements for a credential issued by the board under 201 KAR 050:100.(3)
Each education course shall be approved by the board in accordance with this administrative regulation and shall be conducted by an education provider recognized by the board in accordance with 201 KAR 050:130.Section 2.
How to apply for education course approval. To apply for board approval of a qualifying education or continuing education course, an education provider shall, for each course:(1)
Complete and submit an Application for Course Approval and attach:(a)
A copy of a contract or agreement to be signed by the student which outlines the class schedule, grading system, and attendance requirements, if a contract or agreement is executed between the student and the provider; and(b)
A copy of the course syllabus or outline and all written material that will be used in the course;(2)
Complete and submit an Instructor Application and current resume or curriculum vitae for each instructor of the course listed on the Application for Course Approval, unless the instructor has been approved by the board in accordance with 201 KAR 050:130 Section 4; and(3)
Submit payment of the fee set forth in 201 KAR 050:010 Section 2.Section 3.
Board approval of education courses.(1)
The board shall approve a qualifying education course if it meets the requirements of this regulation and 201 KAR 050:030 Sections 1 and 2.(2)
The board shall approve a continuing education course if it meets the requirements of this regulation.Section 4.
Standards for continuing education courses.(1)
A continuing education course shall:(a)
Be at least two (2) class hours in duration; and(b)
Be designed to maintain or increase an appraiser's skill, knowledge, and competency in real property appraisal.(2)
A continuing education course shall cover topics related to real property appraisal, including:(a)
Ad valorem taxation;(b)
Arbitration, dispute resolution;(c)
Courses related to the practice of real property appraisal or consulting;(d)
Development cost estimating;(e)
Ethics and standards of professional practice, USPAP;(f)
Fair housing, valuation bias, and equal housing opportunity;(g)
Land use planning, zoning;(h)
Management, leasing, timesharing;(i)
Property development, partial interests;(j)
Real estate law, easements, and legal interests;(k)
Real estate litigation, damages, condemnation;(l)
Real estate financing and investment;(m)
Real property appraisal-related computer applications;(n)
Real estate securities and syndication;(o)
Green building construction;(p)
Impact of seller concessions;(q)
Appraising personal property as a component of real property value; or(r)
Appraising business value as a component of real property value.(3)
A continuing education course on the topic of USPAP shall be instructed by at least one (1) AQB Certified USPAP Instructor who is also a state certified appraiser in good standing.Section 5.
Distance education standards.(1)
Continuing education or qualifying education class hours may be delivered by synchronous distance education.(2)
Continuing education or qualifying education class hours may be delivered by asynchronous distance education if:(a)
The course provides a reciprocal environment where the student has verbal or written communication with the instructor;(b)
Approval of course content for college-level courses is obtained from the board, the AQB, or an accredited college, community college, or university that offers distance education programs and is approved or accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the United States Secretary of Education;(c)
Approval of non-academic credit college courses provided by a college is approved by the board or the AQB; and(d)
Course delivery mechanism approval is obtained from:1.
The AQB;2.
An organization approved by the AQB to provide approval of course design and delivery;3.
A college or university that is approved or accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the United States Secretary of Education, and that:a.
Awards academic credit for the distance education course; orb.
Has a distance education delivery program that approves the course design and delivery that incorporates a reciprocal environment where the student has verbal or written communication with the instructor.(3)
Continuing education or qualifying education class hours may be delivered by hybrid distance education if each of its class hours meets the requirements of subsection (1) or (2) of this section.Section 6.
Incorporation by Reference.(1)
"Application for Course Approval," KRPAB Form 013, 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 050:140
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 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: Lilly Jean Coiner, Title: Executive Advisor, Agency: Department of Professional Licensing, Office of Legal Services Address: 500 Mero Street, 2 NC WK#4 Phone Number: (502) 262-5065 (office) Fax: (502) 564-4818 Email: Lilly.coiner@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 approval, renewal, and standards of continuing education courses by the Kentucky Real Property Appraisers Board (“Board”).
(b) The necessity of this administrative regulation:
This regulation is necessary to establish requirements for continuing education courses for certification and licensure of appraisers.
(c) How this administrative regulation conforms to the content of the authorizing statutes:
KRS 324A.035(d) and (f) requires the board to establish requirements for education and continuing education of appraisers, respectively.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation establishes requirements for education and continuing education of appraisers.
(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 and prospective education providers and instructors will need to follow the requirements set forth in this regulation.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):
Education providers seeking course approval will be required to pay the fee associated with their application.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (4):
Current and prospective education providers and instructors will be able to identify the requirements set forth in this regulation.
(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.020, KRS 324A.035, KRS 324A.065, 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: 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; 1990 Ky. Acts ch. 383, sec. 12, effective July 13, 1990, as amended by 1992 Ky. Acts ch. 247, sec. 8, effective April 7, 1992, 1998 Ky. Acts ch. 377, sec. 6, effective July 15, 1998, 2013 Ky. Acts ch. 46, sec. 14, effective June 25, 2013, 2021 Ky. Acts ch. 21, sec. 6, effective June 29, 2021, and 2026 Ky. Acts ch. 172, sec. 10, effective July 15, 2026; 2011 Ky. Acts ch. 58, sec. 2, effective June 8, 2011, as amended by 2013 Ky. Acts ch. 46, sec. 4, effective June 25, 2013, 2021 Ky. Acts ch. 21, sec. 8, effective June 29, 2021, and 2026 Ky. Acts ch. 172, sec. 22, 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:
The revenue generated by this administrative regulation for the first year is currently indeterminable because the number of education providers who will seek approval from the Kentucky Real Property Appraisers Board has not yet been determined.
For subsequent years:
The revenue generated by this administrative regulation for subsequent is currently indeterminable because the number of education providers who will seek approval from 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 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, 12 U.S.C. 3351
(2) State compliance standards.
KRS 324A.020, KRS 324A.035, KRS 324A.065
(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.
PUBLIC PROTECTION CABINET
Kentucky Real Property Appraisers Board
(New Administrative Regulation)
201 KAR 50:140.Education course approval, renewal, and standards.
Section 1.
Types of education courses for appraisers.(1)
Qualifying education courses are prelicensure education courses designed to meet the qualifying education requirements for a credential issued by the board under 201 KAR 050:030.(2)
Continuing education courses are post-licensure education courses designed to meet the continuing education requirements for a credential issued by the board under 201 KAR 050:100.(3)
Each education course shall be approved by the board in accordance with this administrative regulation and shall be conducted by an education provider recognized by the board in accordance with 201 KAR 050:130.Section 2.
How to apply for education course approval. To apply for board approval of a qualifying education or continuing education course, an education provider shall, for each course:(1)
Complete and submit an Application for Course Approval and attach:(a)
A copy of a contract or agreement to be signed by the student which outlines the class schedule, grading system, and attendance requirements, if a contract or agreement is executed between the student and the provider; and(b)
A copy of the course syllabus or outline and all written material that will be used in the course;(2)
Complete and submit an Instructor Application and current resume or curriculum vitae for each instructor of the course listed on the Application for Course Approval, unless the instructor has been approved by the board in accordance with 201 KAR 050:130 Section 4; and(3)
Submit payment of the fee set forth in 201 KAR 050:010 Section 2.Section 3.
Board approval of education courses.(1)
The board shall approve a qualifying education course if it meets the requirements of this regulation and 201 KAR 050:030 Sections 1 and 2.(2)
The board shall approve a continuing education course if it meets the requirements of this regulation.Section 4.
Standards for continuing education courses.(1)
A continuing education course shall:(a)
Be at least two (2) class hours in duration; and(b)
Be designed to maintain or increase an appraiser's skill, knowledge, and competency in real property appraisal.(2)
A continuing education course shall cover topics related to real property appraisal, including:(a)
Ad valorem taxation;(b)
Arbitration, dispute resolution;(c)
Courses related to the practice of real property appraisal or consulting;(d)
Development cost estimating;(e)
Ethics and standards of professional practice, USPAP;(f)
Fair housing, valuation bias, and equal housing opportunity;(g)
Land use planning, zoning;(h)
Management, leasing, timesharing;(i)
Property development, partial interests;(j)
Real estate law, easements, and legal interests;(k)
Real estate litigation, damages, condemnation;(l)
Real estate financing and investment;(m)
Real property appraisal-related computer applications;(n)
Real estate securities and syndication;(o)
Green building construction;(p)
Impact of seller concessions;(q)
Appraising personal property as a component of real property value; or(r)
Appraising business value as a component of real property value.(3)
A continuing education course on the topic of USPAP shall be instructed by at least one (1) AQB Certified USPAP Instructor who is also a state certified appraiser in good standing.Section 5.
Distance education standards.(1)
Continuing education or qualifying education class hours may be delivered by synchronous distance education.(2)
Continuing education or qualifying education class hours may be delivered by asynchronous distance education if:(a)
The course provides a reciprocal environment where the student has verbal or written communication with the instructor;(b)
Approval of course content for college-level courses is obtained from the board, the AQB, or an accredited college, community college, or university that offers distance education programs and is approved or accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the United States Secretary of Education;(c)
Approval of non-academic credit college courses provided by a college is approved by the board or the AQB; and(d)
Course delivery mechanism approval is obtained from:1.
The AQB;2.
An organization approved by the AQB to provide approval of course design and delivery;3.
A college or university that is approved or accredited by the Commission on Colleges, a regional or national accreditation association, or by an accrediting agency that is recognized by the United States Secretary of Education, and that:a.
Awards academic credit for the distance education course; orb.
Has a distance education delivery program that approves the course design and delivery that incorporates a reciprocal environment where the student has verbal or written communication with the instructor.(3)
Continuing education or qualifying education class hours may be delivered by hybrid distance education if each of its class hours meets the requirements of subsection (1) or (2) of this section.Section 6.
Incorporation by Reference.(1)
"Application for Course Approval," KRPAB Form 013, 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 050:140
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 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: Lilly Jean Coiner, Title: Executive Advisor, Agency: Department of Professional Licensing, Office of Legal Services Address: 500 Mero Street, 2 NC WK#4 Phone Number: (502) 262-5065 (office) Fax: (502) 564-4818 Email: Lilly.coiner@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 approval, renewal, and standards of continuing education courses by the Kentucky Real Property Appraisers Board (“Board”).
(b) The necessity of this administrative regulation:
This regulation is necessary to establish requirements for continuing education courses for certification and licensure of appraisers.
(c) How this administrative regulation conforms to the content of the authorizing statutes:
KRS 324A.035(d) and (f) requires the board to establish requirements for education and continuing education of appraisers, respectively.
(d) How this administrative regulation currently assists or will assist in the effective administration of the statutes:
This administrative regulation establishes requirements for education and continuing education of appraisers.
(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 and prospective education providers and instructors will need to follow the requirements set forth in this regulation.
(b) In complying with this administrative regulation or amendment, how much will it cost each of the entities identified in question (4):
Education providers seeking course approval will be required to pay the fee associated with their application.
(c) As a result of compliance, what benefits will accrue to the entities identified in question (4):
Current and prospective education providers and instructors will be able to identify the requirements set forth in this regulation.
(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.020, KRS 324A.035, KRS 324A.065, 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: 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; 1990 Ky. Acts ch. 383, sec. 12, effective July 13, 1990, as amended by 1992 Ky. Acts ch. 247, sec. 8, effective April 7, 1992, 1998 Ky. Acts ch. 377, sec. 6, effective July 15, 1998, 2013 Ky. Acts ch. 46, sec. 14, effective June 25, 2013, 2021 Ky. Acts ch. 21, sec. 6, effective June 29, 2021, and 2026 Ky. Acts ch. 172, sec. 10, effective July 15, 2026; 2011 Ky. Acts ch. 58, sec. 2, effective June 8, 2011, as amended by 2013 Ky. Acts ch. 46, sec. 4, effective June 25, 2013, 2021 Ky. Acts ch. 21, sec. 8, effective June 29, 2021, and 2026 Ky. Acts ch. 172, sec. 22, 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:
The revenue generated by this administrative regulation for the first year is currently indeterminable because the number of education providers who will seek approval from the Kentucky Real Property Appraisers Board has not yet been determined.
For subsequent years:
The revenue generated by this administrative regulation for subsequent is currently indeterminable because the number of education providers who will seek approval from 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 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, 12 U.S.C. 3351
(2) State compliance standards.
KRS 324A.020, KRS 324A.035, KRS 324A.065
(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.