Notice is hereby given in accordance with § 2.2-4007.01 of the Code of Virginia that the Real Estate Appraiser Board intends to consider amending 18VAC130-20, Real Estate Appraiser Board Rules and Regulations. The purpose of the proposed action is to make clarifying changes, ensure consistency with state law, and make any other changes that may be considered necessary, including, but not limited to, (i) amending the definitions of certified residential appraiser and licensed residential appraiser in 18VAC130-20-10 to amplify the definition of transaction value to include market value; (ii) amending 18VAC130-20-20 to ensure all business entities providing appraisal services in Virginia are registered with the board and require a board licensee to serve as the contact person for a registered business entity providing appraisal services; (iii) amending 18VAC130-20-30 to ensure certified general appraiser applicants demonstrate adequate experience in the use of the income approach and appraiser license applicants have recent experience in performing appraisal reports; (iv) amending 18VAC130-20-60 to include provisions that the applicant must be 18 years old and allow for a licensing hearing before the board; (iv) amending 18VAC130-20-180 by changing the term evaluation to valuation; and (v) amending 18VAC130-20-190 to more efficiently take disciplinary action against a certified appraisal instructor who also holds an appraiser license which has been the subject of disciplinary action.

The agency intends to hold a public hearing on the proposed action after publication in the Virginia Register.

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

Public Comment Deadline: June 20, 2012.

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.