Relating to practices and professions regulated by the Texas Appraiser Licensing and Certification Board.
Impact
With the passage of SB1171, state laws will be updated to introduce necessary regulatory frameworks for real estate appraisers in Texas. The bill establishes protocols for the licensing and certification processes, ensuring that all appraisers operate under a consistent set of standards. Additionally, the bill mandates that the Texas Appraiser Licensing and Certification Board has the authority to impose administrative penalties for violations, which can significantly enhance oversight in the appraisal industry and promote accountability among appraisers.
Summary
SB1171 proposes amendments to the Texas Occupations Code pertaining to the practices and professions regulated by the Texas Appraiser Licensing and Certification Board. The bill's main intent is to align state law with federal standards established under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. This alignment is aimed at enforcing stringent standards for real property appraisal processes, enhancing the regulation of appraisers, and ensuring that appraisals are conducted uniformly across the state. This bill also introduces clear definitions and delineations regarding the roles and limitations of real estate appraisers within Texas law.
Contention
There are notable discussions around the enforcement mechanisms provided by this bill, particularly concerning the administrative penalties stipulated for violations of this chapter. Opponents may argue that these penalties could lead to an overly punitive regulatory environment for appraisers who may inadvertently make mistakes. Furthermore, the reciprocal licensing provisions have raised questions about how out-of-state appraisers will be integrated into Texas's regulatory landscape, with some members of the real estate community expressing concern over ensuring qualifications and adherence to Texas standards among these professionals.
Relating to the Texas Real Estate Research Center, the Real Estate Research Advisory Committee, the Texas Real Estate Commission, and the Texas Appraiser Licensing and Certification Board; increasing a fee; authorizing a fee.
Relating to the Texas Real Estate Research Center, the Real Estate Research Advisory Committee, the Texas Real Estate Commission, and the Texas Appraiser Licensing and Certification Board; increasing a fee; authorizing a fee.
Relating to the regulation and voluntary licensing of reroofing contractors by the Texas Department of Licensing and Regulation; providing administrative and civil penalties; authorizing fees.
Relating to methods for the recovery of system restoration costs incurred by electric utilities following hurricanes, tropical storms, ice or snow storms, floods, and other weather-related events and natural disasters.
Relating to methods for the recovery of system restoration costs incurred by electric utilities following hurricanes, tropical storms, ice or snow storms, floods, and other weather-related events and natural disasters.
Relating to the response and resilience of certain electricity service providers to major weather-related events or other natural disasters; granting authority to issue bonds.