According to FACT, the Texas Governor signed HB 2375 into law on Friday. This legislation modifies the current occupational code that governs how a real estate appraiser conducts business within the State of Texas. Among the more significant changes are:
- Brings the TALC Statute into compliance with current terminology and State and Federal Laws relating to the regulation of real estate appraisers.
- Makes it mandatory that a person be certified or licensed under the act in order to perform an appraisal in Texas.
- Allows the TALC Board to delegate to the Commissioner the authority to approve consent orders and agreements to help expedite enforcement case closure.
- Allows the board to solicit, accept and administer gifts, grants and donations.
- Allows for a probationary certificate, license or trainee approval under specified conditions.
- Allows for up to a 90 day period for late renewal of a certificate, license or trainee approval with payment of 1.5 times the required renewal fee – does not allow appraisal practice during the late renewal period.
- Requires an applicant to complete additional prescribed education after failing the licensing or certification exam three consecutive times.
- Repeals the provisional license category.