,,ii #aai? ,,congress #b;d ,session ,s4 #dbah ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,m>* #bf1 #bjbf,ms4 ,duckwor? 7= h]self1 ,mr4 ,%eehy1 & ,mr4 ,banks7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,vet]ans' ,affairs ,a ,,bill ,to am5d title #ch1 ,unit$ ,/ates ,code1 to address appraisal fees = h\s+ loans gu>ante$ by ! ,dep>tm5t ( ,vet]ans ,affairs1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,,va ,appraisal ,mod]nization ,act4 #b4 ,appraisal fees = ,dep>tm5t ( ,vet]ans ,affairs home loans 7a7 ,9 g5]al ,*apt] #cg ( title #ch1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ aft] section #cgca ! foll[+ new section3 #cgca;,a4 ,appraisal fees 7a7 ,def9itions ,9 ?is section3 7#a7 ,appraisal fee ,! t]m appraisal fee means ! comp5sation paid to an apprais] = conduct+ an appraisal ( prop]ty 9 connection ) a loan gu>ante$1 insur$1 or made "u ?is *apt]4 7#b7 ,high-dem& c\nty ,! t]m high-dem& c\nty means a c\nty designat$ z a high-dem& c\nty "u subsection 7c74 7#c7 ,remote c\nty ,! t]m remote c\nty means a c\nty designat$ z a remote c\nty "u subsection 7c74 7b7 ,annual inflation adju/m5t 7#a7 ,basel9e ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ! ,,va ,appraisal ,mod]nization ,act1 ! ,secret>y %all e/abli% appraisal fees = purposes ( ?is *apt]4 7#b7 ,adju/m5t ,on ,janu>y #a1 #bjbg1 & annually !reaft]1 ! ,secret>y %all adju/ ! appraisal fees e/abli%$ "u p>agraph 7#a7 to reflect ! p]c5tage ( ! increase1 if any1 9 ! pur*ase price ( homes dur+ ! previ\s ye>1 z det]m9$ by ! qu>t]ly pur*ase-only ,h\se ,price ,index publi%$ by ! ,f$]al ,h\s+ ,f9ance ,ag5cy1 r\nd$ to ! ne>e/ #be4 7#c7 ,publication2 notice ,! ,secret>y %all-- 7,a7 publi% ! appraisal fees e/abli%$ "u ?is subsection on ! publicly available website ( ! ,dep>tm5t ( ,vet]ans ,affairs2 & 7,b7 directly notify ! apprais]s on ! li/ develop$ & ma9ta9$ "u section #cgca7;a77#c7 ( ?is title ( su* fees4 7c7 ,designation ( high-,dem& c\nties & remote c\nties 7#a7 ,high-dem& c\nties 7,a7 ,9 g5]al ,! ,secret>y %all designate a c\nty z a high-dem& c\nty = purposes ( ?is section if-- 7i7 dur+ ! #ij-;day p]iod prec$+ ! date on :i* ! designation is made-- 7,i7 ! av]age "t to complete an appraisal 9 ! c\nty exce$$ ! timel9ess /&>d e/abli%$ "u section #cgca ( ?is title by m ?an ?ree bus9ess days2 or 7,,ii7 m ?an #ae p]c5t ( appraisal assignm5ts 9 ! c\nty 7 unassign$ = five or m bus9ess days due to insuffici5t apprais] availability2 or 7ii7 ! ,secret>y det]m9es1 bas$ on data analysis & m>ket conditions1 t dem& = appraisals 9 ! c\nty sub/antially exce$s available apprais] capacity4 7,b7 ,li/2 updates ,! ,secret>y %all-- 7i7 ma9ta9 a li/ ( high-dem& c\nties designat$ "u subp>agraph 7,a72 & 7ii7 on a qu>t]ly basis1 review & update su* li/4 7#b7 ,remote c\nties 7,a7 ,9 g5]al ,! ,secret>y %all designate a c\nty z a remote c\nty = purposes ( ?is section if-- 7i7 !re are few] ?an five apprais]s on ! li/ develop$ & ma9ta9$ "u section #cgca7;a77#c7 ( ?is title )9 #cj miles ( ! c\nty's geographic c5t]2 7ii7 ! av]age di/ance travel$ by an apprais] to complete an assignm5t 9 ! c\nty is great] ?an #dj miles "o way2 or 7iii7 ! ,secret>y det]m9es t ! c\nty is *>act]iz$ by l[ apprais] d5sity relative to loan volume4 7,b7 ,li/2 updates ,! ,secret>y %all-- 7i7 ma9ta9 a li/ ( remote c\nties designat$ "u subp>agraph 7,a72 & 7ii7 on a qu>t]ly basis1 review & update su* li/4 7d7 ,appraisal fees 9 high-,dem& c\nties 7#a7 ,9 g5]al ,on ,janu>y #a1 #bjbg1 & annually !reaft]1 ! ,secret>y %all increase ! appraisal fee = appraisals made 9 high-dem& c\nties to n less ?an #abe p]c5t ( ! appraisal fee e/abli%$ "u subsection 7b74 7#b7 ,increase ,9 c>ry+ out p>agraph 7#a71 ! ,secret>y may increase ! appraisal fee = appraisals made 9 a high-dem& c\nty to n m ?an #aej p]c5t ( ! appraisal fee e/abli%$ "u subsection 7b7 if ! c\nty has be5 designat$ z a high-dem& c\nty = f\r qu>t]s or m4 7e7 ,mileage reimbursem5t 7#a7 ,9 g5]al ,= any appraisal made = purposes ( ?is *apt] 9 a high-dem& c\nty or remote c\nty1 ! ,secret>y %all reimburse ! apprais] = mileage at ! rate prescrib$ by ! ,adm9i/rator ( ,g5]al ,s]vices "u section #egjg7;b7 ( title #e = use on (ficial bus9ess ( privately own$ automobiles4 7#b7 ,mileage ,9 ?is subsection1 ! t]m mileage means ! r\nd trip di/ance 9 miles betwe5 ! apprais]'s place ( bus9ess & ! subject prop]ty4 4 7b7 ,cl]ical am5dm5t ,! table ( sections at ! beg9n+ ( su* *apt] is am5d$ by ins]t+ aft] ! item relat+ to section #cgca ! foll[+ new item3 #cgca;,a4 ,appraisal fees4 4 #c4 ,report & /udy 7a7 ,report ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,vet]ans ,affairs %all submit to ! ,committee on ,f9ance ( ! ,s5ate & ! ,committee on ,ways & ,means ( ! ,h\se ( ,repres5tatives a report t includes ! foll[+3 7#a7 ,an e/imation (-- 7,a7 ! effects ( section #cgca;,a ( title #ch1 ,unit$ ,/ates ,code1 z add$ by section #b1 on gov]nm5t exp5ditures ov] "t2 7,b7 ! impact ( su* section on ! numb] ( apprais]s :o jo9 ! appraisal network ( ! ,dep>tm5t ( ,vet]ans ,affairs2 7,c7 ! impact ( su* section on completion times = appraisals 9 high-dem& c\nties2 & 7,d7 ! impact ( su* section on ! use ( h\s+ loans gu>ante$1 insur$1 or made "u *apt] #cg ( title #ch1 ,unit$ ,/ates ,code4 7#b7 ,recomm5dations to prev5t fraud1 wa/e1 & abuse 9 ! implem5tation ( su* section4 7b7 ,/udy ,n lat] ?an #ahj days aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ,vet]ans ,affairs %all-- 7#a7 conduct on a /udy on ! feasibility & advisability (-- 7,a7 procur+ contracts = home apprais]s 9 areas :]e supply _c meet dem&2 & 7,b7 re/ructur+ ! appraisal process ( ! ,dep>tm5t ( ,vet]ans ,affairs to m closely mirror ! appraisal process = loans insur$ by ! ,f$]al ,h\s+ ,adm9i/ration2 & 7#b7 submit to ,congress1 & make publicly available1 a report on ! results ( su* /udy4