Bill: SB 1516, 85(R) - 2017
Committee
Senate Business & Commerce
2nd Chamber Committee
House Licensing & Administrative Procedures
Companion Bill
HB 3261
Vote Recommendation
| Vote Recommendation |
Economic Freedom |
Property Rights |
Personal Responsibility |
Limited Government |
Individual Liberty |
| No |
Negative |
Neutral |
Neutral |
Negative |
Neutral |
Author(s)
Kelly Hancock
Sponsor(s)
Charlie Geren
Bill Caption
Relating to the registration and regulation of appraisal management companies; authorizing fees; expanding the applicability of an occupational registration.
Fiscal Notes
From the Legislative Budget Board: no significant fiscal implication to the state is anticipated.
Bill Analysis
SB 1516 would amend the Occupations Code relating to the registration and regulation of appraisal management companies, and expanding the applicability of an occupational registration. The Texas Appraiser Licensing and Certification Board would be required to collect the national registry fee and corresponding information from federally regulated appraisal companies. These collected fees would be deposited to the credit of the appraiser registry account in the general revenue fund.
An administrative penalty collected under this section must be deposited in a restricted fund maintained and operated by the board to develop educational programs for appraisers or to conduct studies that enhance consumer protection. The board would be permitted to negotiate a settlement and enter into an agreed order with an appraisal management company or person who is the subject of a complaint.
Vote Recommendation Notes
While most of these changes are procedural, this bill ultimately expands occupational regulations and authorizes a new fee on appraisal companies. This is in opposition to the principles of free markets and limited government. For this reason we oppose SB 1516.
Organizations Supporting
Foundation Appraiser Coalition of Texas
