,i #aaf? ,,congress #b;d ,session ,h4 ,r4 #gfhh ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,july #bj1 #bjbj,mr4 ,ku/(f ( ,t5nessee 7= himself & ,mr4 ,p]lmutt]7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,f9ancial ,s]vices ,a ,,bill ,to am5d ! ,f9ancial ,in/itutions ,re=m1 ,recov]y1 & ,en=cem5t ,act ( #aihi to e/abli% a ,portal = ,apprais] ,cr$5tial+ & ,,amc ,regi/ration ,in=mation1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,portal = ,appraisal ,lic5s+ ,act ( #bjbj4 #b4 ,portal = ,apprais] ,cr$5tial+ & ,,amc ,regi/ration ,in=mation ,section #aajc ( ! ,f9ancial ,in/itutions ,re=m1 ,recov]y1 & ,en=cem5t ,act ( #aihi 7#ab ,u4,s4,c4 #cccb7 is am5d$-- 7#a7 9 subsection 7a7-- 7,a7 9 p>agraph 7#c71 by /rik+ & at ! end2 7,b7 9 p>agraph 7#d71 by /rik+ ! p]iod on ! end & ins]t+ a semicolon2 7,c7 9 p>agraph 7#e7-- 7i7 by /rik+ 4 ,! report & ins]t+ 1 & :i*2 & 7ii7 by /rik+ ! p]iod on ! end & ins]t+ a semicolon2 7,d7 9 p>agraph 7#f71 by /rik+ ! p]iod on ! end & ins]t+ 2 &2 & 7,e7 by add+ at ! end ! foll[+3 7#g7 e/abli% & ma9ta9 ! ,portal = ,apprais] ,cr$5tial+ & ,,amc ,regi/ration ,in=mation describ$ "u subsection 7c74 2 & 7#b7 by add+ at ! end ! foll[+3 7c7 ,portal = ,apprais] ,cr$5tial+ & ,,amc ,regi/ration ,in=mation 7#a7 ,9 g5]al ,! ,appraisal ,subcommittee %all e/abli% & ma9ta9 a cl\d-bas$ sy/em to be call$ ! ,portal = ,apprais] ,cr$5tial+ & ,,amc ,regi/ration ,in=mation 7! ,portal71 :i*-- 7,a7 %all provide apprais]s & appraisal managem5t companies a c5tral depository = lic5se1 c]tification1 & regi/ration applications & r5ewals2 7,b7 %all provide connectivity ) ,/ate apprais] c]tify+ & lic5s+ ag5cies = _! access to all application & r5ewal in=mation1 includ+ complet$ qualify+ & cont9u+ education1 exp]i5ce logs1 exam9ation results1 backgr\nd *eck in=mation1 :]e applicable1 & any o!r in=mation ! ,appraisal ,subcommittee det]m9es appropriate 7aft] consid]ation ( any advice f ! advisory committee e/abli%$ "u p>agraph 7#f772 7,c7 %all make available paym5t ( all lic5se1 c]tification1 & regi/ration fees & deliv]y ( lett]s ( good /&+ to ,/ate apprais] c]tify+ & lic5s+ ag5cies2 & 7,d7 may utilize an exi/+ plat=m1 if available4 7#b7 ,backgr\nd *ecks 7,a7 ,access to records ,n)/&+ any o!r provision ( law1 9 provid+ appraisal functions1 ! ,attorney ,g5]al %all provide access to all crim9al hi/ory in=mation to ! appropriate ,/ate (ficials responsible = regulat+ ,/ate-lic5s$ & ,/ate-c]tifi$ apprais]s or appraisal managem5t companies to ! ext5t crim9al hi/ory backgr\nd *ecks are requir$ "u ! laws ( ! ,/ate = ! lic5s+ or c]tification ( su* apprais]s & regi/]+ appraisal managem5t companies4 7,b7 ,ag5t ,= ! purposes ( ?is p>agraph & 9 ord] to r$uce ! po9ts ( contact :i* ! ,f$]al ,bureau ( ,inve/igation may h to ma9ta9 = purposes ( subp>agraph 7,a71 ! ,appraisal ,subcommittee may be us$ z a *annel+ ag5t ( ! ,/ates = reque/+ & di/ribut+ in=mation betwe5 ! ,dep>tm5t ( ,ju/ice & ! appropriate ,/ate ag5cies4 7,c7 ,o!r p]sons requir+ a backgr\nd *eck ,to ! ext5t ,,fbi crim9al hi/ory backgr\nd *ecks are requir$ "u ! laws ( a ,/ate1 apprais]s & any o!r p]son t may require su* a backgr\nd *eck %all submit f+]pr9ts to ! ,portal & au?orize ! ,appraisal ,subcommittee to process a crim9al backgr\nd *eck ) ! ,f$]al ,bureau ( ,inve/igation4 7,d7 ,treatm5t ( backgr\nd *ecks ,backgr\nd *ecks complet$ "u ?is p>agraph %all satisfy any ?ird-p>ty ov]sight requirem5ts impos$ by ,f$]al f9ancial in/itutions regulatory ag5cies4 7#c7 ,additional cont5t in=mation 7,a7 ,education c\rses ,= purposes ( ! education in=mation ma9ta9$ by ! ,portal-- 7i7 a ,/ate apprais] c]tify+ & lic5s+ ag5cy may notify ! ,portal ( :i* p>ticul> c\rses h be5 approv$ by ! ag5cy2 & 7ii7 bo? education provid]s & ,/ate apprais] c]tify+ & lic5s+ ag5cies ( ,/ates may submit to ! ,portal li/s ( individuals :o h complet$ su* c\rses4 7,b7 ,unique id5tifi]s ,! ,appraisal ,subcommittee %all use a unique id5tifi] to id5tify ea* individual :o submits an application ?r\gh ! ,portal or o!rwise makes use ( ! ,portal4 ,! ,appraisal ,subcommittee may also use a unique id5tifi] to id5tify ea* appraisal managem5t company t submits an application ?r\gh ! ,portal or o!rwise makes use ( ! ,portal4 7#d7 ,no effect on ,/ates' rights ,/ates %all reta9 ! ability to act indep5d5tly ^u lic5se1 c]tification1 & regi/ration applications & r5ewals = apprais]s & appraisal managem5t companies4 7#e7 ,treatm5t ( fees ,/ate cred5tial+ fees & any ,/ate-specific in=mation %all cont9ue to be provid$ to ,/ates by apprais]s & appraisal managem5t companies1 b transmitt$ ?r\gh ! ,portal via a /reaml9$ process & application4 7#f7 ,advisory committee 7,a7 ,9 g5]al ,! ,appraisal ,subcommittee %all e/abli% an advisory committee to advise ! ,appraisal ,subcommittee on ! e/abli%m5t ( ! ,portal4 7,b7 ,memb]%ip ,! advisory committee %all consi/ ( repres5tatives ( indu/ry associations1 apprais]s1 l5d]s1 appraisal managem5t companies1 & ,/ate apprais] c]tify+ & lic5s+ ag5cies1 to be det]m9$ by ! ,appraisal ,subcommittee4 7#g7 ,fund+ 7,a7 ,us] fees ,= ! sole purpose ( pay+ = ! co/ ( e/abli%+ & ma9ta9+ ! ,portal & c>ry+ out ! backgr\nd *ecks requir$ "u p>agraph 7#b77;,a71 ! ,appraisal ,subcommittee may *>ge a reasonable fee to individuals & appraisal managem5t companies mak+ use ( ! ,portal4 ,! fee %all be rev5ue neutral to ! co/s ( develop+ & ma9ta9+ ! ,portal4 7,b7 ,/ate grants ,! ,appraisal ,subcommittee %all make grants available to ,/ate apprais] c]tify+ & lic5s+ ag5cies1 9 accordance ) policies to be develop$ by ! ,appraisal ,subcommittee1 to support ! ef=ts ( su* ag5cies to connect ,/ate sy/ems ) ! ,portal4 4