The Board proposes the rule amendment to incorporate the current version of the Uniform Standards of Professional Appraisal Practice into the rule.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Florida Real Estate Appraisal Board

RULE NO.: RULE TITLE:
61J1-9.001: Standards of Appraisal Practice

PURPOSE AND EFFECT: The Board proposes the rule amendment to incorporate the current version of the Uniform Standards of Professional Appraisal Practice into the rule.

SUMMARY: The current version of the Uniform Standards of Professional Appraisal Practice will be incorporated into the rule.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COST AND LEGISLATIVE RATIFICATION:

A Statement of Estimated Regulatory Cost was prepared. During discussion of the economic impact of the rule at its Board meeting, the Board, based upon the expertise and experience of its members, determined that a Statement of Estimated Regulatory Cost (SERC) was necessary, but that the rule amendment will not require ratification by the Legislature. No person or interested party submitted additional information regarding the economic impact at that time. The Board has determined that the rule will not have an adverse impact on small business, or likely increase regulatory costs in excess of $200,000 in the aggregate within 1 year after implementation of the rule.

The following is a summary of the SERC:

• An estimated total of 7,774 appraiser licensees will be affected by the rule amendment.
• There will be no financial impact imposed because the rule is currently in effect as compliance with the Uniform Standards of Professional Appraisal Practice.
• There will be no additional cost to the department for implementing the proposed rule.
• There will be no cost to any other state and local government entities of implementing the proposed rule.
• An estimated number of the small businesses that would be subject to the rule are more than 5,000.
• The language of the rule is specific to the version of USPAP the real estate appraisers are required to follow. The most recent version has been made available online as a free document.
• No small county or small city will be impacted by the proposed rule.

Any person who wishes to provide information regarding the statement of estimated costs, or to provide a proposal for a lower regulatory cost alternative must do so in writing within 21 days of this notice

RULEMAKING AUTHORITY: 475.613(2), 475.628 FS.
LAW IMPLEMENTED: 475.613(2), 475.628 FS.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE ANNOUNCED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE WEEKLY.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Juana Watkins, Director, Division of Real Estate, 400 West Robinson Street, Hurston Building, North Tower, Suite N801, Orlando, Florida 32801

 

THE FULL TEXT OF THE PROPOSED RULE IS:

61J1-9.001 Standards of Appraisal Practice.

All registered, licensed, or certified appraisers shall comply with the 2010-2011 2008-2009 Uniform Standards of Professional Appraisal Practice (USPAP), effective January 1, 2010, which is incorporated by reference.

Rulemaking Specific Authority 475.614 475.613(2), 475.628 FS. Law Implemented 475.613(2), 475.628 FS. History–New 8-29-06, Amended 3-24-09,________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Florida Real Estate Appraisal Board

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Florida Real Estate Appraisal Board

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 7, 2011

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: July 8, 2011