| Last Action | 02/18/26: reported favorably, 1st reading, to Calendar with Committee Substitute (1) |
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| Title | AN ACT relating to real property appraisers. |
| Bill Documents | Introduced |
| Bill Request Number | 83 |
| Sponsors | S. McPherson, M. Pollock |
| Summary of Original Version | Create a new section of KRS 324A.010 to 324A.100 to require actions against a certified or licensed real property appraiser to be brought within 1 year; amend various sections of KRS Chapter 324A to change "real estate appraisal" to "real property appraisal"; define "evaluation," "federally related transaction," and "real property-related financial transaction"; replace the Real Estate Appraisers Board with an independent agency to be known as the Real Property Appraisers Board; attach the Real Property Appraisers Board to the Department of Professional Licensing for administrative purposes; change the number of board members from 5 to 7; require 2 board members to be certified residential real property appraisers; require those employed by the board to investigate grievances to have 10 years of experience, hold a credential equal to the credential held by the appraiser under investigation, and have experience in appraising the type of property relevant to the investigation; allow the board to employ persons it deems necessary; allow the board to use hearing officers of the Attorney General's Office; allow the board or its authorized agents to give advice on best practices management; prohibit legal action arising from any advice given by the board or its agents relating to best practices management; prohibit any person not licensed or certified as a real property appraiser from providing any type of appraisal performed by a licensed or certified real property appraiser unless they are exempt; allow a licensed or certified real property appraiser to provide an evaluation; require a certificate or license holder to complete 28 hours of continuing education hours; allow hours completed for 1 USPAP update course to apply toward the continuing education requirement; require complaints to be filed with the board within 1 year after the date of transmittal of the appraisal report; establish a biennial license renewal period; increase initial application and renewal fees from $200 to $400; amend KRS 324B.045 to remove the Real Estate Appraisers Board from the Division of Real Property Boards; amend KRS 133.120 to allow a tax consultant and licensed real estate sales associate to receive compensation to represent a property owner at a conference with the property valuation administrator or in an appeal before the board; amend KRS 154.60-040, 198B.702, 324.085, 324A.035, 324A.050, 324A.088, 324A.100, 324A.150, 324A.152, 324A.158, 324A.162, 324A.164, 324B.030, 350.280, 413.140, 56.806, 56.8175, 56.823, 99.830, and 99.835 to conform. |
| Index Headings of Original Version |
Boards And Commissions - Real Estate Appraisers Board, reestablishment as Real Property Appraisers Board Licensing - Real property appraisers, biennial licensure renewal Occupations And Professions - Real appraisers, licensing, biennial renewal Property - Real Appraisers Board, rename, independent agency Real Estate - Real Estate Appraisers Board, reestablishment as Real Property Appraisers Board State Agencies - Real Property Appraisers Board, independent agency |
| Jump to Proposed Amendments | House Committee Substitute 1 |
| 01/13/26 |
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| 01/21/26 |
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| 01/22/26 |
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| 02/18/26 |
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| Amendment | House Committee Substitute 1 |
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| Summary | Retain original provisions, except allow the board to refer violations to the Attorney General, Commonwealth's attorneys, and county attorneys rather than file actions directly; require actions against an appraisal management company to be brought within 1 year, and any actions for fraud or misrepresentation within 5 years; allow the board to employ an executive director; require an executive director to be a certified general or residential real property appraiser and have 10 years of experience in Kentucky; prohibit use of the title "real property damage appraiser" unless certified or licensed by the board; exempt a bank or banker that provides appraisals or appraisal reviews in the normal course of business, and a staff or independent adjuster licensed under KRS Chapter 304 or any other representative of an insurance company in the settlement of an insurance claim from KRS Chapter 324A; prohibit an appraiser from negotiating, or advertising to negotiate, on behalf of an insured on an insurance claim relating to real property; allow an appraiser to advocate for the accuracy of his or her appraisal report; require the board to establish fee amounts by administrative regulation; delete fee amounts set in statute and require an appraisal management company to certify that all appraisal reports meet the minimum reporting requirements in accordance with USPAP; make technical corrections. |
| Index Headings |
Banks And Financial Institutions - Appraisals, appraisal review, banking exemption Boards And Commissions - Real Estate Appraisers Board, fees, administrative regulations Fees - Real Estate Appraisers Board, fees, administrative regulations Insurance - Real property appraisal, negotiation, claim settlement, adjuster exemption Licensing - Real property appraisers, exemptions, banking, insurance Occupations And Professions - Real property appraisers, licensing, executive director, appraisal management company Property - Real Estate Appraisers Board, fees, administrative regulations Property - Real property appraisers, exemptions, banking, insurance Property - Real property appraisers, licensing, executive director, appraisal management company Real Estate - Real Estate Appraisers Board, fees, administrative regulations Real Estate - Real property appraisers, exemptions, banking, insurance Real Estate - Real property appraisers, licensing, executive director, appraisal management company |
Last updated: 2/18/2026 5:41 PM (EST)