The Board proposes the rule amendment to add an application and biennial fee for an appraisal management company.

 

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Florida Real Estate Appraisal Board

RULE NO.: RULE TITLE:
61J1-2.001: Fees

PURPOSE AND EFFECT: The Board proposes the rule amendment to add an application and biennial fee for an appraisal management company.

SUMMARY: An application and biennial fee for an appraisal management company will be added to 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:

• The estimated total of appraisal management companies’ registration is 2,000 applicants at a one-time cost each of $150.00 for the application fee and a recurring cost of $300.00, the cost of the biennial fee, within five years, for a total of $1,050.00.
• The rule will impact small appraiser offices if that small business operates in the capacity of an appraisal management company in Florida. It is estimated the potential for 2,000 registered appraisal management companies exist.
• Licensure of appraisal management companies and related fees were mandated by the Legislature and are not at the Board’s discretion. The projections in the 2010 bill analysis included one-time costs to be paid by the Division of Real Estate of $110,139 in development of licensing standards, $15,000 recurring contract services, $8,000 for rule making costs, and recurring expenses of $20,000 per year for two additional board members when appointed by the Governor.
• There will be no additional cost to any other state and local government entities of implementing 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: 475.614 FS.
LAW IMPLEMENTED: 215.34, 455.217, 455.2281, 455.271(6)(b), 475.6147, 475.615, 475.618. 475.6235(3) 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:

61J1-2.001 Fees.

(1)	The application fee shall be as follows:
	Registered Trainee Appraiser	$50.00
	Certified Residential Appraiser	$100.00
	Certified General Appraiser Appraisal Management Company	$100.00 $150.00
(2)	The biennial fee shall be:
	Registered Trainee Appraiser	$175.00
	Licensed Appraiser	$175.00
	Certified Residential Appraiser	$175.00
	Certified General Appraiser Appraisal Management Company	$175.00 $300.00

(3) through (15) No change.

Rulemaking Authority 475.614 FS. Law Implemented 215.34, 455.217, 455.2281, 455.271(6)(b), 475.6147, 475.615, 475.618, 475.6235(3) FS. History–New 10-15-91, Amended 6-7-92, 5-6-93, Formerly 21VV-2.001, Amended 9-22-93, 7-5-94, 5-22-95, 8-20-96, 11-11-97, 10-1-98, 10-29-98, 1-7-99, 11-15-99, 11-10-03, 2-21-06, 9-21-06, 12-4-06, 3-13-07, 12-4-07, 7-17-11,________.

 

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