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Initial Regulatory Flexibility Analysis
These proposed rules will be reviewed by the department through its Small Business Review Advisory Committee to determine whether there will be an economic impact on a substantial number of small businesses, as defined in s. 227.114 (1) (a), Stats.
Copies of Rule and Contact Person
Copies of this proposed rule are available without cost upon request to: Pamela Haack, Department of Regulation and Licensing, Office of Administrative Rules, 1400 East Washington Avenue, Room 171, P.O. Box 8935, Madison, Wisconsin 53708 (608) 266-0495.
Notice of Proposed Rule
Regulation and Licensing
NOTICE IS HEREBY GIVEN that pursuant to ss. 227.11 (2) and 458.24, Stats., and interpreting ss. 458.24 and 458.26 (3) (b), Stats., and according to the procedure set forth in s. 227.16 (2) (e), Stats., the Department of Regulation and Licensing will adopt the following rules as proposed in this notice, without public hearing unless, within 30 days after publication of this notice, on October 1, 2001, the Department of Regulation and Licensing is petitioned for a public hearing by 25 natural persons who will be affected by the rule; a municipality which will be affected by the rule; or an association which is representative of a farm, labor, business or professional group which will be affected by the rule.
Analysis Prepared by the Department of Regulation and Licensing
Statutory Authority: ss. 227.11 (2) and 458.24.
Statutes interpreted: ss. 458.24 and 458.26 (3) (b), Stats.
In this proposed rule-making of the Department of Regulation and Licensing, proposes to repeal and recreate ch. RL 87, Appendix I, which contains the Uniform Standards of Professional Appraisal Practice (USPAP).
The department proposes to repeal Appendix I which contains the USPAP and recreate it to incorporate by reference the 2002 edition of USPAP. As required under s. 227.21, Stats., the department has obtained the consent of the attorney general and revisor of statutes to the incorporation of the 2002 edition of USPAP into the rules by reference.
Text of Rule
SECTION 1. Chapter RL 87, Appendix I is repealed and recreated:
CHAPTER RL 87
Appendix I
Uniform Standards of Professional Appraisal Practice
The 2002 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) is hereby incorporated by reference into this appendix. The 2002 edition of USPAP is effective January 1, 2002 to December 31, 2002.
After January 1, 2002, copies of the 2002 edition of USPAP may be purchased from the Appraisal Standards Board of the Appraisal Foundation, 1029 Vermont Avenue, N.W., Suite 900, Washington, D.C. 20005-3517, (202) 347-7722. After January 1, 2002, copies of the 2002 edition of USPAP may also be obtained, at no charge, from the Appraisal Foundation's website at http://www.appraisalfoundation.org.
Note: As required under s. 227.21, Stats., the attorney general and revisor of statutes have consented to the incorporation by reference of the 2002 edition of the Uniform Standards of Professional Appraisal Practice. After January 1, 2002, copies of the 2002 edition of the USPAP will be on file in the offices of the Department of Regulation and Licensing, the Secretary of State and the Revisor of Statutes.
Fiscal Impact
1. The anticipated fiscal effect on the fiscal liability and revenues of any local unit of government of the proposed rule is: $0.00.
2. The projected anticipated state fiscal effect during the current biennium of the proposed rule is: $0.00.
3. The projected net annualized fiscal impact on state funds of the proposed rule is: $0.00.
Initial Regulatory Flexibility Analysis
These proposed rules will be reviewed by the department through its Small Business Review Advisory Committee to determine whether there will be an economic impact on a substantial number of small businesses, as defined in s. 227.114 (1) (a), Stats.
Copies of Rule and Contact Person
Copies of this proposed rule are available without cost upon request to: Pamela Haack, Department of Regulation and Licensing, Office of Administrative Rules, 1400 East Washington Avenue, Room 171, P.O. Box 8935, Madison, Wisconsin 53708-8935, (608) 266-0495.
Notice of Hearing
Regulation and Licensing
NOTICE IS HEREBY GIVEN that pursuant to authority vested in the Department of Regulation and Licensing in ss. 227.11 (2), 458.03 and 458.085, Stats., and interpreting ss. 458.06, 458.08, 458.13, 458.24 and 458.26, Stats., the Department of Regulation and Licensing will hold a public hearing at the time and place indicated below to consider an order revising chs. RL 80 to 87, relating to real estate appraisers.
Hearing Date, Time and Location
Date: October 15, 2001
Time: 10:00 a.m.
Location: 1400 East Washington Avenue
Room 133
Madison, Wisconsin
Appearances at the Hearing
Interested persons are invited to present information at the hearing. Persons appearing may make an oral presentation but are urged to submit facts, opinions and argument in writing as well. Facts, opinions and argument may also be submitted in writing without a personal appearance by mail addressed to the Department of Regulation and Licensing, Office of Administrative Rules, P.O. Box 8935, Madison, Wisconsin 53708. Written comments must be received by October 22, 2001 to be included in the record of rule-making proceedings.
Analysis Prepared by the Department of Regulation and Licensing
Statutes authorizing promulgation: ss. 227.11 (2), 458.03 and 458.085, Stats.
Statutes interpreted: ss. 458.06, 458.08, 458.13, 458.24 and 458.26, Stats.
In this proposed rule-making order the Department of Regulation and Licensing amends, renumbers, repeals and recreates numerous provisions contained in chs. RL 80 to 87, Code, relating to the regulation of certified and licensed appraisers. Significant changes to the current rules are as follows:
1. Section RL 80.03, Code, is revised to create definitions for "distance education," "FIRREA" and "non-federally related transaction." Several definitions, "ad valorem tax appraisal," "appraisal analysis," "appraisal experience," "feasibility analysis," "fee and staff appraisal," "highest and best use," and "real estate counseling" are being revised to delete references to the applicable version of USPAP. This information is already identified in s. RL 83.01 (3) (a), Code, which provides that work claimed for appraisal experience must be in compliance with the USPAP "as in effect at the time the appraisals were prepared."
2. Section RL 81.03 (2) (b), Code, is being repealed because in the future the department will obtain written verification of current licensure or certification of appraisers from the Federal Registry established by the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. Under s. RL 81.03 (2) (d), Code, an applicant will be required to submit a written statement identifying each state in which he or she practices as an appraiser.
3. Section RL 82.03, Code, is being repealed because the department now reports examination results to candidates as "pass/fail."
4. Section RL 83.02 (2), Code, is being repealed because the department no longer accepts teaching experience as appraisal experience. Section RL 83.02 (3), Code, is also being amended to reflect that teaching experience is no longer acceptable as appraisal experience.
5. Sections RL 84.01 (6) and 85.02 (8), Code, are being repealed and recreated. These revisions are being made to reflect the changes to the requirements for distance education set forth in the Real Property Appraiser Qualification Criteria adopted by the Appraiser Qualifications Board of the Appraisal Foundation.
6. Section RL 86.01, Code, is being repealed because it is not consistent with the Competency Rule contained in USPAP. Section RL 86.01 (6), Code, states that a certified or licensed appraiser shall not offer to perform, nor perform, services which he or she is not competent to perform through education or experience. The Competency Rule provides that prior to accepting an assignment or entering into an agreement to perform any assignment, an appraiser must properly identify the problem to be addressed and have the knowledge and experience to complete the assignment competently, or alternatively, must do all of the following:
a. Disclose the lack of knowledge and/or experience to the client before accepting the assignment.
b. Take all steps necessary or appropriate to complete the assignment competently.
c. Describe the lack of knowledge and/or experience and the steps taken to complete the assignment competently in the report.
Fiscal Impact
1. The anticipated fiscal effect on the fiscal liability and revenues of any local unit of government of the proposed rule is: $0.00.
2. The projected anticipated state fiscal effect during the current biennium of the proposed rule is: $0.00.
3. The projected net annualized fiscal impact on state funds of the proposed rule is: $0.00.
Initial Regulatory Flexibility Analysis
These proposed rules will be reviewed by the department through its Small Business Review Advisory Committee to determine whether there will be an economic impact on a substantial number of small businesses, as defined in s. 227.114 (1) (a), Stats.
Copies of Rule and Contact Person
Copies of this proposed rule are available without cost upon request to: Pamela Haack, Department of Regulation and Licensing, Office of Administrative Rules, 1400 East Washington Avenue, Room 171, P.O. Box 8935, Madison, Wisconsin 53708 (608) 266-0495
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