Relating to authorizing the Real Estate Appraiser Licensing and Certification Board to promulgate a legislative rule relating to requirements for registration and renewal of appraisal management companies

2025 Regular Session Introduced by Doug Smith

HB 2319 empowers the Real Estate Appraiser Board to set rules for registering and renewing appraisal management companies, enhancing industry oversight in West Virginia.

To House Government Organization

#legislature--rulemaking

Bill Information

Bill Number: HB 2319

Title: Relating to authorizing the Real Estate Appraiser Licensing and Certification Board to promulgate a legislative rule relating to requirements for registration and renewal of appraisal management companies

Status: To House Government Organization

Introduced: February 12, 2025

Classification: Bill

Subject: Legislature--Rule Making

Purpose and Intent

House Bill 2319 aims to empower the Real Estate Appraiser Licensing and Certification Board to establish legislative rules concerning the registration and renewal processes for appraisal management companies. This initiative is intended to enhance regulatory oversight and ensure compliance within the appraisal management sector.

Key Provisions

Authorization of Rule-Making: The bill specifically authorizes the Real Estate Appraiser Licensing and Certification Board to promulgate rules that will govern:

The registration requirements for appraisal management companies.
The renewal processes for these companies to maintain their operational status.

Modification of Existing Rules: The bill references a legislative rule that was filed on August 30, 2024, and subsequently modified to address concerns raised by the Legislative Rule-Making Review Committee. This modified rule was refiled on October 7, 2024, indicating a responsive approach to legislative feedback.

Impact

Affected Entities: The primary entities affected by this legislation will be appraisal management companies operating within West Virginia. These companies will need to adhere to the new registration and renewal requirements set forth by the Real Estate Appraiser Licensing and Certification Board.

Regulatory Compliance: By establishing clear requirements, the bill aims to improve the regulatory framework surrounding appraisal management, potentially leading to enhanced accountability and professionalism in the industry.

Procedural Aspects

Legislative Timeline:

February 12, 2025: The bill was filed for introduction and referred to the House Government Organization Committee on the same day.

This bill represents a step towards strengthening the regulatory environment for appraisal management companies in West Virginia, ensuring that they meet established standards for operation and renewal.

Bill