|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Jun 30, 2013||
|Jun 24, 2013||
delivered to governor
|Jun 10, 2013||
returned to senate
ordered to third reading cal.491
substituted for a6901
|May 08, 2013||
referred to governmental operations
delivered to assembly
|May 06, 2013||
advanced to third reading
|May 01, 2013||
2nd report cal.
|Apr 30, 2013||
1st report cal.527
|Mar 19, 2013||
referred to finance
senate Bill S4281Signed By Governor
Relates to the supervision of real estate appraiser assistants
Archive: Last Bill Status - Signed by Governor
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed by Governor
view actions (13)
May 8, 2013 - floor VoteS4281570floor57Aye0Nay1Absent5Excused0Abstained
show floor vote details
Floor Vote: May 8, 2013aye (57)
Apr 30, 2013 - Finance committee VoteS4281340committee34Aye0Nay1Aye with Reservations0Absent1Excused0Abstained
show Finance committee vote details
Finance Committee Vote: Apr 30, 2013aye (34)aye wr (1)excused (1)
- show floor vote details
S4281 - Bill Details
- See Assembly Version of this Bill:
- Law Section:
- Executive Law
- Laws Affected:
- Amds §§160-a & 160-k, Exec L
S4281 - Bill Texts
Relates to the supervision of real estate appraiser assistants.
view sponsor memo
TITLE OF BILL: An act to amend the executive law, in relation to
restricting the supervision of state licensed real estate appraiser
Purpose of the Bill:
This bill would bring Article 6-e of the Executive Law (Exec. Law)
into compliance with Federal requirements for the supervision of state
licensed real estate appraisal assistants by limiting the type of
appraisers who are permitted to supervise them.
Summary of Provisions:
Section one of the bill amends Exec. Law § 160-a(6)(c) by removing
from the definition of "state licensed real estate appraiser
assistant" reference to supervision by a "state licensed real estate
appraiser," leaving reference only to supervision by a "state
certified real estate appraiser who holds a current valid license."
Thus, only state certified real estate appraisers would be permitted
to supervise appraiser assistants, rather than both state licensed and
state certified appraisers.
Section two of the bill amends Exec. Law § 160-k(4), which limits the
number of appraiser assistants that can be supervised by an individual
appraiser, by removing reference to "state licensed real estate
appraiser(s)," and leaving reference only to "state certified real
Section three of the bill makes the law effective on July 1, 2013.
Exec. Law § 160-a(6)(c) defines "state licensed real estate appraiser
assistant" as a person who assists and is supervised by a State
licensed real estate appraiser or State certified real estate
appraiser. Exec. Law § 160-k(4) limits the number of State licensed
real estate appraiser assistants that may be supervised by a State
licensed real estate appraiser or State certified real estate
appraiser to three.
Prior Legislative History:
This is a new proposal.
Statement in Support:
The Federal Appraisal Subcommittee (ASC), pursuant to FIRREA Title XI,
establishes the minimum qualification criteria (e.g., education,
experience, and examination) for state licensing, certification and
re-certification of real property appraisers. It also issues guidance
and reviews state programs for compliance. A state's qualification
standards must be no less stringent than those issued by the ASC for
the state's program to be recognized by the subcommittee and for
appraisals performed by persons licensed and/or certified by that
state to be used in federally related transactions.
The Dodd-Frank amendments to FIRREA Title XI include provisions
related to minimum qualifications for assistant and supervisor
appraisers, such that only certified appraisers may supervise
appraiser assistants. Exec. Law §§ 160-a(6)(c) and 160-k(4) currently
permit both certified and licensed appraisers to supervise appraisal
The new standards must be adopted by state appraisal programs by July
1, 2013, at which point the ASC will begin compliance review. States
that fail to revise their licensing statutes and regulations to meet
the new standards will be subject to sanctions and endanger the
validity of the licenses and certifications they issue. If New York
were to lose federal recognition of the State appraisal program,
federally regulated financial institutions and many state-regulated
financial institutions would be prohibited from accepting appraisals
from New York real estate appraisers. This would affect most mortgage
and refinance transactions.
This legislation is necessary to ensure that New York meets the
This bill would take effect on July 1, 2013.
view full text
S T A T E O F N E W Y O R K ________________________________________________________________________ 4281 2013-2014 Regular Sessions I N S E N A T E March 19, 2013 ___________ Introduced by Sen. DeFRANCISCO -- (at request of the Department of State) -- read twice and ordered printed, and when printed to be committed to the Committee on Finance AN ACT to amend the executive law, in relation to restricting the super- vision of state licensed real estate appraiser assistants THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Paragraph (c) of subdivision 6 of section 160-a of the executive law, as added by chapter 241 of the laws of 1999, is amended to read as follows: (c) "State licensed real estate appraiser assistant" means a person who assists and is supervised by a [state licensed real estate appraiser or] state certified real estate appraiser and who holds a current valid license issued to him or her under the provisions of this article. S 2. Subdivision 4 of section 160-k of the executive law, as added by chapter 248 of the laws of 2007, is amended to read as follows: 4. No state certified real estate appraiser [or state licensed real estate appraiser] shall supervise more than three licensed real estate appraiser assistants. S 3. This act shall take effect July 1, 2013. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD08934-01-3
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