CR 20-086 Rule Text

Comparison with rules in adjacent states:

Illinois:

Rules of the Illinois Department of Financial and Professional Regulation address the practice of real estate appraisal in Illinois (68 Ill. Adm. Code 1455). The rules adopt the minimum qualifications for real property appraisers established May 1, 2018 by the Appraiser Qualifications Board of The Appraisal Foundation, and do not currently reflect the May 15, 2020, change to the applicability of the Licensed Residential Real Property Appraiser classification (68 Ill. Adm. Code 1455.10).

Iowa:

Rules of the Iowa Real Estate Appraiser Examining Board address the practice of real estate appraisal in Iowa (193F IAC 1 to 17). The rules adopt the minimum qualifications for real property appraisers established May 1, 2018 by the Appraiser Qualifications Board of The Appraisal Foundation, and do not currently reflect the May 15, 2020, change to the applicability of the Licensed Residential Real Property Appraiser classification (193F IAC 1.19).

Michigan:

Rules of the Michigan Department of Licensing and Regulatory Affairs address the practice of real estate appraisal in Michigan (Mich Admin Code, R 339.23101 to R 339.23405). The rules provide for 3 classes of license for real estate appraisers, including a State Licensed Real Estate Appraiser classification (Mich Admin Code, R 339.23403). This classification does not currently reflect the May 15, 2020, change by the AQB to the applicability of the Licensed Residential Real Property Appraiser classification.

Minnesota:

The Minnesota Statutes, Sections 82B.02 to 82B.24, address the practice of real estate appraisal in Minnesota. The statutes adopt the minimum education, examination, and experience requirements established by the Appraiser Qualifications Board (AQB) of the Appraisal Foundation and published in the most recent version of the Real Property Appraiser Qualification Criteria (2019 Minnesota Statutes, Section 82B.095, Subd. 3.). The statutes also provide for 5 classes of license for real estate appraisers, including a Licensed Residential Real Property Appraiser classification (2019 Minnesota Statutes, Section 82B.11, Subd. 3.). This classification does not currently reflect the May 15, 2020, change by the AQB to the applicability of the Licensed Residential Real Property Appraiser classification.

Summary of factual data and analytical methodologies:

The proposed rules were developed by, in consultation with the Real Estate Appraisers Board, reviewing the provisions of s. 440.09, Stats., as created by 2019 Wisconsin Act 143, and the change made to the real property appraiser classifications within the Appraiser Qualifications Board’s Real Property Appraiser Qualification Criteria.

Analysis and supporting documents used to determine effect on small business or in preparation of economic impact analysis:

The proposed rules were posted for a period of 14 days to solicit public comment on economic impact, including how the proposed rules may affect businesses, local government units, and individuals. No comments were received.

Fiscal Estimate and Economic Impact Analysis:

The Fiscal Estimate and Economic Impact Analysis document is attached.

Effect on small business:

These rules do not have an economic impact on small businesses, as defined in s. 227.114 (1), Stats. The Department’s Regulatory Review Coordinator may be contacted by email at [e-mail], or by calling [phone].

Agency contact person:

Dale Kleven, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, P.O. Box 8366, Madison, Wisconsin 53708-8366; telephone [phone]; email at [e-mail].

Place where comments are to be submitted and deadline for submission:

Comments may be submitted to Dale Kleven, Administrative Rules Coordinator, Department of Safety and Professional Services, Division of Policy Development, P.O. Box 8366, Madison, WI 53708-8366, or by email to [e-mail]. Comments must be received at or before the public hearing to be held at 9:00 a.m. on February 9, 2021, to be included in the record of rule-making proceedings.

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TEXT OF RULE

Section 1.   SPS 85.120 (15m), (21g), and (21r) are created to read:

  SPS 85.120 (15m) “Former service member” has the meaning given in s. 440.09 (1) (a), Stats.

  (21g) “Service member” has the meaning given in s. 440.09 (1) (b), Stats.

  (21r) “Spouse” has the meaning given in s. 440.09 (1) (c), Stats.

Section 2.   SPS 85.230 (2) is amended to read:

  SPS 85.230 (2) In determining whether to grant a reciprocal license or certification under sub. (1), the department shall consider whether the current requirements for a license or certification in the other state or territory meet or exceed the requirements for licensure or certification as an appraiser in this state.

Section 3.   SPS 85.230 (2m) is created to read:

  SPS 85.230 (2m) As provided under s. 440.09, Stats., the department shall grant a reciprocal license or certification as an appraiser to an individual who the department determines meets all of the following requirements:

  (a) The individual applies for a reciprocal license or certification under this subsection on a form prescribed by the department.

  (b) The individual is a service member, a former service member, or the spouse of a service member or former service member and resides in this state.

  (c) The individual holds a license, certification, registration, or permit that was granted by a governmental authority in a jurisdiction outside this state that qualifies the individual to perform appraisals conducted in connection with federally related transactions.

  (d) The individual pays the fee specified under s. 440.05 (2), Stats.

  (e) The individual is in good standing with the governmental authorities in every jurisdiction outside this state that have granted the individual a license, certification, registration, or permit that qualifies the individual to perform appraisals conducted in connection with federally related transactions. An individual does not meet the requirement under this paragraph if, during the 5-year period immediately preceding the date of application under par. (a), any of the following apply:

  1. The individual has had an appraiser license or certification limited, suspended, revoked, or surrendered for cause, in any governmental jurisdiction.

 

  2. The individual has been convicted of, or plead guilty or nolo contendere to, a felony substantially related to the practice of real estate appraisal. This subdivision does not apply if the felony involved an act other than fraud, dishonesty, breach of trust, or money laundering.

Section 4.   SPS 85.230 (3) is amended to read:

  SPS 85.230 (3) The Subject to s. 440.09 (2m), Stats., the department may request additional information to determine if an applicant is qualified for reciprocal licensure or certification. Failure by an applicant to comply with a request for additional information within 120 days from the date of the request shall void the application and require the applicant to reapply for reciprocal licensure or registration.  

Section 5.   SPS 85.500 is amended to read:

  SPS 85.500 Licensed appraiser.  A licensed appraiser may conduct appraisals of complex 1-to-4 family residential property having a transaction value of not more than $250,000 $400,000, non-complex 1-to-4 family residential property having a transaction value of not more than one million dollars, and commercial real estate having a transaction value of not more than $500,000.

Section 6.   Effective date. The rules adopted in this order shall take effect on the first day of the month following publication in the Wisconsin Administrative Register, pursuant to s. 227.22 (2) (intro.), Stats.

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