Title of Regulation: 18VAC130-20. Real Estate Appraiser Board Rules and Regulations (amending 18VAC130-20-130, 18VAC130-20-250).

Statutory Authority: §§ 54.1-201 and 54.1-2013 of the Code of Virginia.

Effective Date: May 1, 2021.

Agency Contact: Christine Martine, Executive Director, Real Estate Appraiser Board, 9960 Mayland Drive, Suite 400, Richmond, VA 23233, telephone (804) 367-8552, FAX (804) 527-4298, or email reappraisers@dpor.virginia.gov.

Summary:

The amendments reduce the renewal and reinstatement fees for real estate appraiser licenses and reapproval fees for educational offerings that expire on May 31, 2021, and before May 1, 2023.

18VAC130-20-130. Fees for renewal and reinstatement.

A. All fees are nonrefundable.

B. National Registry fee assessment. In accordance with the requirements of § 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, $80 of the biennial renewal or reinstatement fee assessed for all certified general real estate appraisers, certified residential and licensed residential real estate appraisers shall be submitted to the Appraisal Subcommittee. The registry fee may be adjusted in accordance with the Act and charged to the licensee.

Renewal and reinstatement fees for a certified general real estate appraiser, a certified residential real estate appraiser, a licensed residential real estate appraiser and an appraiser trainee include a $37.50 fee for a copy of the Uniform Standards of Professional Appraisal Practice. This fee is subject to the fee charged by the Appraisal Foundation and may be adjusted and charged to the applicant in accordance with the fee charged by the Appraisal Foundation.

C. Renewal fees are as follows:

For licenses expiring on February 28, 2018 May 31, 2021, and before February 1, 2020 May 1, 2023, the renewal fees are as follows:

D. Reinstatement fees are as follows:

For licenses expiring on February 28, 2018 May 31, 2021, and before February 1, 2020 May 1, 2023, the reinstatement fees shall be as follows:

18VAC130-20-250. Reapproval of courses required.

Approval letters issued under this chapter for educational offerings shall expire two years from the last day of the month in which they were issued, as indicated in the approval letter. The reapproval fee shall be equivalent to the original approval fee specified in 18VAC130-20-240. For courses expiring on February 28, 2018 May 31, 2021, and before February 1, 2020 May 1, 2023, the course reapproval fee shall be $75 $25.