REQUIRES TWO‑THIRDS MAJORITY VOTE (§ 2)          EXEMPT

                                                   (REPRINTED WITH ADOPTED AMENDMENTS)

 

Senate Bill No. 307–Senator Schneider

 

March 9, 2001

____________

 

Referred to Committee on Commerce and Labor

 

SUMMARY—Requires real estate division of department of business and industry to hire professional consultants to ensure compliance with certain provisions of federal law regarding appraisers of real estate and increases certain fees of real estate division. (BDR 54‑1062)

 

FISCAL NOTE:  Effect on Local Government: No.

                             Effect on the State: Contains Appropriation not included in Executive Budget.

 

~

 

EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to appraisers of real estate; requiring the real estate division of the department of business and industry to hire professional consultants to ensure compliance with Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989; increasing certain fees of the real estate division; making an appropriation; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1    Section 1. NRS 645C.170 is hereby amended to read as follows:

1-2    645C.170  1.  The division shall [administer] :

1-3    (a) Administer this chapter and may employ legal counsel, investigators

1-4  and other professional consultants necessary to the discharge of its duties

1-5  pursuant to this chapter[.] ; and

1-6    (b) Within the limits of available money, employ or contract for the

1-7  services of professional consultants to investigate complaints, conduct

1-8  audits and perform any other activities necessary to ensure compliance

1-9  with Title XI of the Financial Institutions Reform, Recovery and

1-10  Enforcement Act of 1989, as amended.

1-11  2.  No employee of the division may:

1-12  (a) Be employed by or have an interest in any business that prepares

1-13  appraisals; or

1-14  (b) Act as an appraiser, as an agent for an appraiser or as an intern.

1-15  Sec. 2.   NRS 645C.450 is hereby amended to read as follows:

1-16  645C.450  1.  The following fees may be charged and collected by the

1-17  division:

 

2-1    Application for a certificate, license or registration card................................ $100

2-2    Issuance or renewal of a certificate or license as a

2-3  residential appraiser........................ [250] 290

2-4    Issuance or renewal of a certificate as a general appraiser....................... [350] 390

2-5    Issuance of a permit...................... [75] 115

2-6    Issuance or renewal of a registration card................................................ [150] 190

2-7    Issuance of a duplicate certificate or license for an

2-8  additional office........................................ 50

2-9    Change in the name or location of a business........................................................... 10

2-10    Reinstatement of an inactive certificate or license................................................. 10

2-11    Annual approval of a course of instruction offered in

2-12  preparation for an initial certificate or license.......................................................... 100

2-13    Annual approval of a course of instruction offered for

2-14  continuing education................................. 50

 

2-15  2.  The division shall adopt regulations which establish the fees to be

2-16  charged and collected by the division for:

2-17  (a) The examination for a certificate or license; and

2-18  (b) Any additional expenses which are necessary for the administration

2-19  of the examination.

2-20  Sec. 3.  1.  There is hereby appropriated from the state general fund

2-21  to the real estate division of the department of business and industry to

2-22  investigate complaints, conduct audits and perform any other activities

2-23  necessary to ensure compliance with Title XI of the Financial Institutions

2-24  Reform, Recovery and Enforcement Act of 1989, as amended:

2-25  For the fiscal year 2001-2002............... $22,000

2-26  For the fiscal year 2002-2003............... $22,000

2-27  2.  Any balance of the sums appropriated by subsection 1 remaining at

2-28  the end of the respective fiscal years must not be committed for

2-29  expenditure after June 30 of the respective fiscal years and reverts to the

2-30  state general fund as soon as all payments of money committed have been

2-31  made.

2-32  Sec. 4.  This act becomes effective on July 1, 2001.

 

2-33  H