The Board proposes the rule amendment to clarify what designations or abbreviations denoting licensure may be used on appraisal reports.

DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION
Florida Real Estate Appraisal Board

Rule No. : RULE TITLE :
61J1-7.001: Display and Disclosure of Registration, License or Certification Designation
PURPOSE AND EFFECT: The Board proposes the rule amendment to clarify what designations or abbreviations denoting licensure may be used on appraisal reports.
SUMMARY: The language concerning what designations or abbreviations denoting licensure on appraisal reports will be clarified.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: Have an adverse impact on small business, nor will the proposed rule likely increase directly or indirectly regulatory costs, including transactional costs, in excess of $200,000 in the aggregate within one year or $1 million in the aggregate within 5 years after implementation of the rule. Therefore, it has been determined that the rule does not meet the threshold for ratification by the Legislature. The following is a summary of the SERC:
• A total of 7,652 appraiser licensees will be affected by the rule amendment.
• All Registered Trainee Appraisers, Licensed Appraisers, Certified Residential Appraisers, and Certified General Appraisers will be required to update their advertising media to reflect the simplified abbreviation of their designation.
• 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.
• Analysis of impact on small business: 7,652 appraiser licensees with a cost of approximately $25.00 per licensee for a total of $191,300, a one-time expense to current licensees.
• No small county or small city will be impacted by the proposed rule.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
RULEMAKING AUTHORITY: 475.614 FS.
LAW IMPLEMENTED: 475.622 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAW.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Juana Watkins, Acting 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:

61J1-7.001 Display and Disclosure of Registration, License or Certification Designation.

(1) No change.

(2) The following designations or abbreviations shall be used:

(a) “State-registered trainee real estate appraiser”, “registered trainee” or “Ttrainee RI###.”

(b) “State-licensed real estate appraiser”, “state-licensed r.e. appraiser”, “state-lic. r.e. appraiser”, “state-lic. r.e. appr.” or “St.Lic.REA” or “Licensed RH###.”

(c) “State-certified residential real estate appraiser”, “state-certified residential r.e. appraiser”, “state-certified residential appraiser”, “state-certified res. appraiser”, state-cert. res. appraiser”, “state-cert. res. appr.” or “St.Cert.Res.REA” or “Cert Res RD###.”

(d) “State-certified general real estate appraiser”, “state-certified general r.e. appraiser”, “state-certified general appraiser”, “state-certified gen. appraiser”, state-cert. gen. appr.” or “St.Cert.Gen.REA” or “Cert Gen RZ###.”

(3) No change.

Rulemaking Specific Authority 475.614 FS. Law Implemented 475.622 FS. History–New 10-15-91, Formerly 21VV-7.001, Amended 10-29-98, 2-12-03, 2-16-04,_______.

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: December 7, 2010
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: November 24, 2010