Portal for Appraisal Licensing Act of 2023

Hozzl · 2024-03-13T16:38:38Z

Explore the details of Senate Bill 2692 Portal for Appraisal Licensing Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

3/13/2024, 4:38 PM

Summary of Bill S 2692

Bill 118 s 2692, also known as the Portal for Appraisal Licensing Act of 2023, 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, complete required coursework, and track the status of their application.

The portal will also serve as a resource for current licensed appraisers, providing access to continuing education opportunities, regulatory updates, and other relevant information. Additionally, the bill includes provisions for the establishment of a national database of licensed appraisers, which will help ensure the integrity and professionalism of the appraisal industry.

Overall, the Portal for Appraisal Licensing Act of 2023 aims to modernize and improve the licensing process for real estate appraisers, making it more efficient and accessible for both applicants and current license holders.

Congressional Summary of S 2692

Portal for Appraisal Licensing Act of 2023

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 S 2692

Bill S 2692 is currently in the status of Bill Introduced since July 27, 2023. Bill S 2692 was introduced during Congress 118 and was introduced to the Senate on July 27, 2023. Bill S 2692's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of July 27, 2023

Bipartisan Support of Bill S 2692

Total Number of Sponsors

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Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 2692

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 2692

Portal for Appraisal Licensing Act of 2023

A bill 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.