,,iib  #aaf? ,,congress  #a/ ,session   
,h4 ,r4 #cfai  ,,9 ,,! ,,s5ate ,,( ,,!  
,,unit$ ,,/ates  ,septemb] #bc1 #bjai   
,receiv$2 read twice & ref]r$ to !      
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs  ,,an ,,act  ,to am5d !        
,f9ancial ,in/itutions ,re=m1 ,recov]y1 
& ,en=cem5t ,act ( #aihi to provide !   
,appraisal ,subcommittee ) ! au?ority to
 modify annual regi/ry fees = appraisal 
managem5t companies1 to ma9ta9 a regi/ry
 ( tra9ees & *>ge a l[] tra9ee regi/ry  
fee1 & to all[ grants to ,/ates to assi/
 apprais] & pot5tial apprais] compliance
 ) ! ,real ,prop]ty ,apprais]           
,qualification ,crit]ia1 & = o!r        
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,appraisal ,fee ,transp>5cy
 ,act ( #bjai4  #b4 ,annual regi/ry fees
 = appraisal managem5t companies        
,subp>agraph 7,b7 ( section             
#aaji7;a77#d7 ( ! ,f9ancial ,in/itutions
 ,re=m1 ,recov]y1 & ,en=cem5t ,act (    
#aihi 7#ab ,u4,s4,c4 #ccch7;a77#d77;,b77
 is am5d$--  7#a7 9 clause 7ii71 by     

/rik+ ! p]iod at ! end & ins]t+ a       
semicolon2 &  7#b7 by ins]t+ aft] & bel[
 clause 7ii7 ! foll[+3  except t if !   
,appraisal ,subcommittee det]m9es t !   
fees e/abli%$ "u clause 7i7 or 7ii7     
result 9 adv]se consequ5ces or are      
o!rwise n appropriately tailor$ to meet 
! goals ( ?is p>agraph1 ! ,appraisal    
,subcommittee may e/abli% a new =mula = 
fees1 :i* new =mula may n take effect   
until ! ,appraisal ,subcommittee submits
 a report to ! ,congress ju/ify+ its    
decision to e/abli% su* a new =mula1    
sett+ =? ! new =mula1 & expla9+ h[ ! new
 =mula w affect su* fees4 4  #c4 ,tra9ee
 apprais]s  7a7 ,ma9t5ance on national  
regi/ry ,p>agraph 7#c7 ( section        
#aajc7;a7 ( ! ,f9ancial ,in/itutions    
,re=m1 ,recov]y1 & ,en=cem5t ,act (     
#aihi 7#ab ,u4,s4,c4 #cccb7;a77#c77 is  
am5d$ by /rik+ & lic5s$ & ins]t+ 1      
lic5s$1 & tra9ee4  7b7 ,annual regi/ry  
fees ,subp>agraph 7,a7 ( section        
#aaji7;a77#d7 ( ! ,f9ancial ,in/itutions
 ,re=m1 ,recov]y1 & ,en=cem5t ,act (    

#aihi 7#ab ,u4,s4,c4 #ccch7;a77#d77;,a77
 is am5d$--  7#a7 by ins]t+ includ+     
tra9ee apprais]s1 aft] transactions12   
7#b7 by ins]t+ except t ! ,appraisal    
,subcommittee may1 9 its discretion1    
*>ge a fee = tra9ee apprais]s n exce$+  
#bj aft] #dj12 &  7#c7 by ins]t+ be=e ! 
semicolon ! foll[+3 2 except t no?+ 9   
?is subp>agraph may be con/ru$ to       
require a ,/ate to e/abli% or op]ate an 
program = tra9ee apprais]s4  7c7        
,def9ition ,section #aaba ( ! ,f9ancial 
,in/itutions ,re=m1 ,recov]y1 &         
,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4   
#ccej7 is am5d$ by add+ at ! end !      
foll[+ new p>agraph3  7#ab7 ,tra9ee     
apprais] ,! t]m tra9ee apprais] means an
 individual :o meets ! m9imum crit]ia   
e/abli%$ by ! ,apprais] ,qualification  
,bo>d = a tra9ee apprais] lic5se & is   
cr$5tial$ by a ,/ate apprais] c]tify+ & 
lic5s+ ag5cy4  4  #d4 ,grants to        
nonpr(its & in/itutions ( high]         
education = compliance ef=ts ,p>agraph  
7#e7 ( section #aaji7;b7 ( ! ,f9ancial  

,in/itutions ,re=m1 ,recov]y1 &         
,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4   
#ccch7;b77#e77 is am5d$ by ins]t+       
nonpr(it organizations1 & in/itutions ( 
high] education aft] lic5s+ ag5cies14   
#e4 ,requirem5t to disclose appraisal   
fees ,section #d7;c7 ( ! ,real ,e/ate   
,settlem5t ,proc$ures ,act ( #aigd 7#ab 
,u4,s4,c4 #bfjc7;c77 is am5d$ by /rik+  
may & ins]t+ %all4  #f4 ,inclusion (    
designee ( ,secret>y ( ,vet]ans ,affairs
 on ,appraisal ,subcommittee ,! fir/    
s5t5ce ( section #ajaa ( ! ,f$]al       
,f9ancial ,in/itutions ,exam9ation      
,c\ncil ,act ( #aigh 7#ab ,u4,s4,c4     
#ccaj7 is am5d$ by ins]t+ ! ,dep>tm5t ( 
,vet]ans ,affairs1 aft] ,protection14   
#g4 ,det]m9ation ( budget>y effects ,!  
budget>y effects ( ?is ,act1 = ! purpose
 ( comply+ ) ! ,/atutory ,pay-,z-,y-,g  
,act ( #bjaj1 %all be det]m9$ by ref]5ce
 to ! late/ /atem5t titl$ ,budget>y     
,effects ( ,,paygo ,legislation = ?is   
,act1 submitt$ = pr9t+ 9 !              
,congressional ,record by ! ,*airman ( !

 ,h\se ,budget ,committee1 provid$ t su*
 /atem5t has be5 submitt$ prior to !    
vote on passage4  ,pass$ ! ,h\se (      
,repres5tatives ,septemb] #ai1          
#bjai4;,*]yl ,l4 ,johnson1,cl]k