Describe the lack of knowledge and/or experience and the steps taken to complete the assignment competently in the report.
The Uniform Standards of Professional Appraisal Practice set forth in ch. RL 87, Appendix I, is being repealed and recreated to include revisions contained in the 2000 edition of USPAP. Under s. 458.24, Stats., the Department is required to periodically review the “Uniform Standards of Professional Appraisal Practice" and, if appropriate, revise its rules to reflect revision to the Standards.
Key Features Of The 2000 Edition Of The Uniform Standards Of Professional Appraisal Practice (USPAP).
The 2000 edition of USPAP is the result of exposure drafts that occurred on April 27, April 28, June 25 and August 11, 1999. On the basis of written responses and substantial public testimony at Appraisal Standards Board (ASB) public hearings, the ASB formally adopted the 2000 edition of USPAP on September 15, 1999. Based on the input of professional organizations, educators, regulators, and state enforcement agencies, the effective date of the 2000 edition of USPAP is January 1, 2000.
Format:
Consecutive line numbers have been added to the text beginning with the Preamble and concluding at the end of Statement 9 (SMT-9). Consecutive line numbers have also been added to each Advisory Opinion. The line numbers are intended to facilitate references to the document, including the identification of changes from the previous action.
Ethics Rule:
The Confidentiality section has been changed to include the appraiser's obligation to “act in good faith with regard to the legitimate interests of the client in the use of confidential information and in the communication of assignment results" (Lines 135-136). The term “confidential factual data" has been replaced with “confidential information" (Line 138). The comment in the Confidentiality section has been modified to clarify that the section does not apply when confidential elements have been removed through redaction or the process of aggregation (Lines 144-146). The definition of confidential information was clarified by removing the reference to “publicly available" information. The revised definition focuses on information received from and identified by the client as being confidential when given to the appraiser.
Competency Rule:
The Competency Rule has been changed to acknowledge that different kinds of competency in addition to “geographic" competency may be necessary in an assignment. These include, but are not limited to, “an appraiser's familiarity with a specific type of property, a market, a geographic area, or an analytical method" (Lines 198-199). When these or potentially other forms of competency are necessary for developing credible results, appraisers are responsible for having the requisite competency to complete the assignment properly, or they must follow the steps outlined in the Rule.
Definitions:
Modifications were made to the definitions of CONFIDENTIAL INFORMATION (Line 395), PERSONAL PROPERTY (Line 439) and REPORT (Line 451.) The definition of REVIEW was replaced with a definition of APPRAISAL REVIEW (Line 358). One new definition was added: ASSIGNMENT RESULTS (Line 367).
Standard 1:
Standards Rule 1-2(f) was modified to identify more specifically the parties associated with the appraiser's scope of work obligations. Accordingly, the phrase “third party" was replaced with the “client, an intended user, or the appraiser's peers' in the same or a similar assignment" (Line 620).
Standard 2:
Standards Rule 2-4 was changed to clarify what compliance with the Rule means and to permit departure when the appraiser is not able to comply (Line 1201-1202). References to “the extent that is both possible and appropriate" and “including expert testimony" have been deleted.
Standard 3:
Changes to Standard 3 restructure the requirements for better organization, consistency, and understandability in appraisal review, clarify a number of concepts in the Standard, and incorporate personal property valuation into the Standard's text. As mentioned above, the term REVIEW was replaced with a definition of APPRAISAL REVIEW. Throughout the document, the phrases “review," “review appraisal," and “review appraiser" have been updated to “appraisal review" or “reviewer" for consistency with the revisions to Standard 3. The Comment section of the Standard clarifies the nature of appraisal review and scope of work obligations (Lines 1231-1256). Standards Rules 3-1 and 3-2 (Lines 1258-1429) have been expanded to achieve better clarity and consistency with the other development and reporting standards. Standards Rule 3-3 (Lines 1431-1439) was added to clarify how the Standard applies to oral appraisal review reports. Statement 1 (STM-1), which concerned clarifications to the Comment on Standards Rule 3-1(g) in previous editions, was retired (see below).
Standards 7 and 8:
With the exception of Standards Rule 8-5, Standards 7 and 8 were comprehensively updated to include terminology familiar to personal property appraisers, to ensure consistency, where appropriate, with the structure and concepts adopted in other parts of the document, and to assist personal property appraisers and users of personal property appraisals in understanding and applying the Standards in practice.
Standards 9 and 10:
With the exception of Standards Rules 10-1(c) and 10-5, Standards 9 and 10 were comprehensively updated to include terminology familiar to business appraisers, to ensure consistency, where appropriate, with the structure and concepts adopted in other parts of the document, and to assist business appraisers and users of business and intangible asset appraisals in understanding and applying the Standards in practice.
Statement 1:
As the subject matter of this Statement was incorporated into the changes associated with Standard 3, STM-1 was retired. However, its number and place in the document have been retained for editorial consistency (Lines 3323-3329).
Statements 3, 4, 6, 7 and 9:
These Statements have been edited to add references and/or text consistent with the terminology used in the context of Standard 8. For example, previous references to “real estate" have been eliminated and replaced with “property" or “appraisals" (Lines 3440-3576, 3686-4120, 4215-4938.)
Advisory Opinions:
Advisory Opinion 8 (AO-8) was updated to reflect current Financial Accounting Standards Board (FASB) references to “fair value." Advisory Opinion 19 (AO-19), “Unacceptable Assignment Conditions in Real Property Appraisal Assignments," was added.
  Note: Administrative edits were made to all sections of the document to improve consistency.
Fiscal Estimate
1. The anticipated fiscal effect on the fiscal liability and revenues of any local unit of government of the proposed rule is: $0.00.
2. The projected anticipated state fiscal effect during the current biennium of the proposed rule is: $0.00.
3. The projected net annualized fiscal impact on state funds of the proposed rule is: $0.00.
Initial Regulatory Flexibility Analysis
These proposed rules will be reviewed by the Department through its Small Business Review Advisory Committee to determine whether there will be an economic impact on a substantial number of small businesses, as defined in s. 227.114 (1) (a), Stats.
Copies of Rule and Contact Information
Copies of this proposed rule are available without cost upon request to:
Pamela Haack
Department of Regulation and Licensing
Office of Administrative Rules
1400 East Washington Ave., Room 171
P.O. Box 8935
Madison, WI 53708
Telephone (608) 266-0495
Notice of Hearing
Transportation
Notice is hereby given that pursuant to ss. 85.16 (1) and 348.07 (4), Stats., interpreting s. 348.07 (4), Stats., the Department of Transportation will hold a public hearing at the following location to consider the amendment of ch. Trans 276, Wis. Adm. Code, relating to allowing the operation of “double bottoms" and certain other vehicles on certain specified highways.
Hearing Information
The hearing will be held as follows:
Date and Time   Location
June 29, 2000   Room 419, Hill Farms
Thursday   State Trans. Bldg.
10:00 a.m.   4802 Sheboygan Ave.
  MADISON, WI
(Parking is available for persons with disabilities)
Written Comments
The public record on this proposed rule-making will be held open until close of business on the date of the hearing to permit the submission of written comments from persons unable to attend the public hearing or who wish to supplement testimony offered at the hearing. Any such written comments should be submitted to:
Ashwani K. Sharma, Traffic Operations Engineer
Bureau of Highway Operations, Room 501
P. O. Box 7986
Madison, WI 53707-7986
Analysis Prepared by the Wis. Dept. of Transportation
Statutory authority: ss. 85.16 (1) and 348.07 (4)
Statute interpreted: s. 348.07 (4)
General Summary of Proposed Rule:
This proposed rule amends s. Trans 276.07 (11), Wis. Adm. Code, to add one segment of highway to the designated highway system established under s. 348.07 (4), Stats. The actual highway segment that this proposed rule adds to the designated highway system is:
Hwy. From To
STH 55 USH 41 STH 54 South of
in Kaukauna Seymour
  Note: The proposed rule text often achieves these objectives by consolidating individual segments into contiguous segments with new end points. In order to determine the actual highway segment added, it is necessary to compare the combined old designations with the combined new designation.
The long trucks to which this proposed rule applies are those with 53-foot semitrailers, double bottoms and the vehicles which may legally operate on the federal National Network, but which exceed Wisconsin's regular limits on overall length. Generally, no person may operate any of the following vehicles on Wisconsin's highways without a permit: A single vehicle with an overall length in excess of 40 feet, a combination of vehicles with an overall length in excess of 65 feet, a semitrailer longer than 48 feet, an automobile haulaway longer than 66 feet plus allowed overhangs, or a double bottom. Certain exceptions are provided under s. 348.07 (2), Stats., which implements provisions of the federal Surface Transportation Assistance Act in Wisconsin.
  Note: 45-foot buses are allowed on the National Network and Interstate system by Federal law. Section 4006 (b) of the Intermodal Surface Transportation Efficiency Act of 1991.
The effect of this proposed rule will be to extend the provisions of ss. 348.07 (2) (f), (fm), (gm) and (gr), and 348.08 (1) (e), Stats., to the highway segments listed above. As a result, vehicles which may legally operate on the federal National Network in Wisconsin will also be allowed to operate on the newly-designated highways. Specifically, this means there will be no overall length limitation for a tractor-semitrailer combination, a double bottom or an automobile haulaway on the affected highway segments. There also will be no length limitation for a truck tractor or road tractor when operated in a tractor-semitrailer combination or as part of a double bottom or an automobile haulaway. Double bottoms will be allowed to operate on the affected highway segments provided neither trailer is longer than 28 feet, 6 inches. Semitrailers up to 53 feet long may also be operated on these highway segments provided the kingpin-to-rear axle distance does not exceed 43 feet. This distance is measured from the kingpin to the center of the rear axle or, if the semitrailer has a tandem axle, to a point midway between the first and last axles of the tandem. Otherwise, semitrailers, including semitrailers which are part of an automobile haulaway, are limited to 48 feet in length.
These vehicles and combinations are also allowed to operate on undesignated highways for a distance of 5 miles or less from the designated highway in order to reach fuel, food, maintenance, repair, rest, staging, terminal or vehicle assembly or points of loading or unloading.
Fiscal Estimate
The Department estimates that there will be no fiscal impact on the liabilities or revenues of any county, city, village, town, school district, technical college district or sewerage district.
Initial Regulatory Flexibility Analysis
The provisions of this proposed rule adding highway segments to the designated system have no direct adverse effect on small businesses, and may have a favorable effect on those small businesses which are shippers or carriers using the newly-designated routes.
Copies of Rule and Contact Information
Copies of this proposed rule are available without cost upon request to the office of the State Traffic Engineer, Room 501, P. O. Box 7986, Madison, WI 53707-7986, telephone (608) 266-1273. For questions about this rule-making, please call Ashwani Sharma, Traffic Operations Engineer at (608) 266-1273 or write to the address previously provided. Alternate formats of the proposed rule will be provided to individuals at their request.
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