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Minutes for SB419 - Committee on Taxation
Short Title
Amending the Kansas appraisal management company registration act.
Minutes Content for Mon, Apr 2, 2018
Scott Wells provided an overview on SB419 which amends the Kansas Appraisal Management Company Registration Act. Section 1 allows the Real Estate Appraisal Board to transmit information and disciplinary action on an appraisal management company to the National Registry of the Appraisal Subcommittee. Section 2 allows the Real Estate Appraisal Board the authority to collect and remit the National Registry Fee for any appraisal management company operating in Kansas that is exempt from registering in Kansas. Section 4 removes the 10 percent threshold for owning part of an appraisal management company when an owner has had an appraisal accreditation refused, denied, suspended, revoked, or surrendered or non-renewed from a pending disciplinary proceeding. Section 4 removes the initial 30-day window that an appraisal management company could remove an appraiser from their panel without written notification. Mr. Wells stood for questions from the Committee.
Sally Pritchett, Executive Director of the Kansas Real Estate Appraisal Board testified as an proponent for SB419 (Attachment 1). Ms. Pritchett stood for questions from the Committee.
Hearing closed on SB419.
Meeting adjourned at 4:22 PM.
