Commerce, Real Estate

Section R162-106-1

Uniform Standards

Notice of Proposed Rule

(Amendment)

DAR File No.: 33226
Filed: 11/30/2009 04:11:24 PM

RULE ANALYSIS

Purpose of the rule or reason for the change:

Pursuant to Subsection 61-2b-8(5)(c), the Appraiser Board wishes to exempt certain individuals from complying with the Uniform Standards Professional Appraisal Approval Practice (USPAP) standards in certain situations.

Summary of the rule or change:

This rule would exempt an individual from complying with USPAP when acting in an official capacity as a Division staff member or employee, a member of the experience review committee or technical review committee as appointed and approved by the Board, a hearing officer, a member of a county board of equalization, an administrative law judge, a member of the Utah State Tax Commission, or a member of the Board.

State statutory or constitutional authorization for this rule:

• Section 61-2b-29
• Subsection 61-2b-8(5)(c)

Anticipated cost or savings to:

the state budget:

This amendment does not create or implement a new program that would require administrative oversight. No impact to the state budget is anticipated.

local governments:

Appraisers who work for local governments as hearing officers or members of county boards of equalization will not have to comply with USPAP in the performance of appraisal-related duties. Exempting these appraisers from compliance with USPAP does not require local governments to take any action or implement any oversight. No impact to local governments is anticipated.

small businesses:

Small appraisal businesses have always been required to comply with USPAP are not eligible for the exemption provided by this amendment. They will remain obligated to comply, with no additional costs imposed.

persons other than small businesses, businesses, or local governmental entities:

Affected persons are relieved of the duty to comply with USPAP. There are no associated costs.

Compliance costs for affected persons:

This amendment relieves certain individuals from complying with USPAP standards. There are no associated compliance costs.

Comments by the department head on the fiscal impact the rule may have on businesses:

No fiscal impact to businesses is anticipated from this rule filing, which exercises statutory authority to exempt those acting in an official capacity from USPAP requirements.

Francine A. Giani, Executive Director

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Commerce
Real Estate
160 E 300 S
SALT LAKE CITY, UT 84111-2316

Direct questions regarding this rule to:

• Jennie Jonsson at the above address, by phone at 801-530-6706, by FAX at 801-526-4387, or by Internet E-mail at jjonsson@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

01/27/2010

Interested persons may attend a public hearing regarding this rule:

• 01/27/2009 09:00 AM, Heber Wells Building, 160 E 300 S, Room 210, Salt Lake City, UT

This rule may become effective on:

02/03/2010

Authorized by:

Deanna Sabey, Director

R162. Commerce, Real Estate.

R162-106. Professional Conduct.

R162-106-1. Uniform Standards.

[106.1.](1) [As required by the Appraisal Foundation in accordance with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA),]Unless exempted in Subsection 2, all appraisers and appraiser trainees must comply with the current edition of the Uniform Standards of Professional Appraisal Practice (USPAP)[ currently approved by the Board. Information on which version of USPAP is currently approved by the Board may be obtained from the division]. All persons licensed or certified under this chapter must also observe the Advisory Opinions of USPAP.[ Copies of USPAP may be obtained from the Appraisal Foundation, 1029 Vermont Avenue N.W., Suite 900,Washington, D.C. 20005. Registered expert witnesses, licensed and certified appraisers and candidates for registration, licensure or certification may obtain copies from the division.]

(2) An individual is exempt from complying with all provisions of USPAP when acting in an official capacity as:

(a) a Division staff member or employee;

(b) a member of the experience review committee as appointed and approved by the Board;

(c) a member of the technical review panel as appointed and approved by the Board;

(d) a hearing officer;

(e) a member of a county board of equalization;

(f) an administrative law judge;

(g) a member of the Utah State Tax Commission; or

(h) a member of the Board.

 

KEY: real estate appraisals, conduct

Date of Enactment or Last Substantive Amendment: [April 25, 2007]2010

Notice of Continuation: February 15, 2007

Authorizing, and Implemented or Interpreted Law: 61-2b-29, 61-2b-8(5)(c)