Portal for Appraisal Licensing Act of 2021

Hozzl · 2022-12-30T07:34:00Z

Explore the details of House Bill 5756 Portal for Appraisal Licensing Act of 2021 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

12/30/2022, 7:34 AM

Summary of Bill HR 5756

Bill 117 HR 5756, also known as the Portal for Appraisal Licensing Act of 2021, aims to create a centralized online portal for individuals seeking to obtain or renew a license to practice real estate appraisal. The bill seeks to streamline the licensing process by providing a user-friendly platform where applicants can submit their documentation, track the status of their application, and communicate with licensing authorities.

The portal will also serve as a repository for educational resources and information on licensing requirements, making it easier for aspiring appraisers to navigate the complex licensing process. Additionally, the bill includes provisions to ensure the security and confidentiality of applicant information, as well as measures to prevent fraud and abuse in the licensing process.

Overall, the Portal for Appraisal Licensing Act of 2021 aims to modernize and simplify the licensing process for real estate appraisers, ultimately improving access to this important profession and ensuring that appraisers meet the necessary qualifications to protect consumers and maintain the integrity of the real estate market.

Congressional Summary of HR 5756

Portal for Appraisal Licensing Act of 2021

This bill establishes a central portal for real estate appraisers and real estate appraisal management companies to apply for and to renew certain licenses, certifications, and registrations. The portal must provide connectivity with state agencies and include the ability to pay fees. The Department of Justice must provide access to criminal history information to state officials for required background checks.

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Current Status of Bill HR 5756

Bill HR 5756 is currently in the status of Bill Introduced since October 27, 2021. Bill HR 5756 was introduced during Congress 117 and was introduced to the House on October 27, 2021. Bill HR 5756's most recent activity was Referred to the House Committee on Financial Services. as of October 27, 2021

Bipartisan Support of Bill HR 5756

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 5756

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 5756

Portal for Appraisal Licensing Act of 2021

To amend the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to establish a Portal for Appraiser Credentialing and AMC Registration Information, and for other purposes.