SENATE COMMUNITY AFFAIRS COMMITTEE
SENATE, No. 2316
with committee amendments
STATE OF NEW JERSEY
DATED: DECEMBER 11, 1997
The Senate Community Affairs Committee reports favorably Senate Bill No. 2316 with committee amendments.
This bill, as amended, would require applicants and those persons already licensed or certified under the provisions of the "Real Estate Appraisers Act," P.L.1991, c.68 (C.45:14F-1 et seq.) to submit to a State and federal criminal history background check, to determine whether those persons are fit to be so licensed or certified. The State Real Estate Appraiser Board would be required to determine that an applicant for licensure or certification is unfit to be licensed or certified, as the case may be, and would be required to revoke the licensure or certification of a person currently licensed or certified if that person meets the criteria for disqualification as provided in the bill.
The bill, as amended, would also require that persons performing appraisals on real estate, regardless of the value or the purpose for which the appraisal is being performed, be certified or licensed in accordance with the provisions of the "Real Estate Appraisers Act," P.L.1991, c.68 (C.45:14F-1 et seq.). Under current law, a person not licensed or certified as an appraiser may appraise real estate with a value of $150,000 or less, or may perform an appraisal, other than an appraisal for a federally related transaction, if the person for whom it is being performed is using the appraisal as information in making his or its own personal or business decisions.
In addition, the bill, as amended, would exempt from the provisions of the "Real Estate Appraisers Act": tax assessors and assistant tax assessors holding valid tax assessor certificates and employed by a county or municipal government or any political subdivision thereof whose appraisal activities are limited to appraisals in the course of their employment; State employees under certain circumstances when their appraisal activities are limited to the course of their employment; and real estate appraisers licensed or certified in another state in compliance with federal requirements while on temporary assignment appraising real property located in this State, even when that assignment is not part of a federally-related transaction.
The committee amended the bill to remove a provision that would have required the Director of the Division of Consumer Affairs to establish a toll-free hotline telephone number for persons to call with inquiries concerning the status of a real estate appraiser, including information concerning any disciplinary actions or complaints filed against the appraiser.