DOS-41-11-00001-P Appraisal Standards

10/12/11 N.Y. St. Reg. DOS-41-11-00001-P

NEW YORK STATE REGISTER

VOLUME XXXIII, ISSUE 41

October 12, 2011

RULE MAKING ACTIVITIES

DEPARTMENT OF STATE

PROPOSED RULE MAKING

NO HEARING(S) SCHEDULED

 

I.D No. DOS-41-11-00001-P

Appraisal Standards

PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following proposed rule:

Proposed Action:

This is a consensus rule making to amend section 1106.1 of Title 19 NYCRR.

Statutory authority:

Executive Law, section 160-d(1)(d)

Subject:

Appraisal standards.

Purpose:

To adopt the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice.

Text of proposed rule:

§ 1106.1 Appraisal Standards

(a) Every appraisal assignment shall be conducted and communicated in accordance with the following provisions and standards set forth in the [2010-2011] 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice:

(1) Definitions;

(2) Preamble;

(3) Ethics rule;

(4) [Competency rule] Recordkeeping rule;

(5) [Scope of work rule] Competency rule;

(6) [Jurisdictional exception rule] Scope of work rule;

(7) [Standard 1-Real Property Appraisal, Development] Jurisdictional exception rule;

(8) [Standard 2-Real Property Appraisal, Reporting] Standard 1-Real Property Appraisal, Development;

(9) [Standard 3-Appraisal Review, Development and Reporting] Standard 2-Real Property Appraisal, Reporting;

(10) [Standard 4-Real Property Appraisal Consulting, Development] Standard 3-Appraisal Review, Development and Reporting;

(11) [Standard 5-Real Property Appraisal Consulting, Reporting] Standard 4-Real Property Appraisal Consulting, Development;

(12) [Standard 6-Mass Appraisal, Development and Reporting.] Standard 5-Real Property Appraisal Consulting, Reporting;

(13) [Standard 7-Personal Property Appraisal, Development] Standard 6-Mass Appraisal, Development and Reporting;

(14) [Standard 8-Personal Property Appraisal, Reporting] Standard 7-Personal Property Appraisal, Development;

(15) [Standard 9-Business Appraisal, Development; and] Standard 8-Personal Property Appraisal, Reporting;

(16) [Standard 10-Business Appraisal, Reporting.] Standard 9-Business Appraisal, Development; and

(17) Standard 10-Business Appraisal, Reporting.

(b) The [2010-2011] 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice is published by the Appraisal Foundation, which is authorized by the United States Congress as the source of appraisal standards. Copies may be obtained from:

The Appraisal Foundation 1029 Vermont Avenue, NW, Suite 900 Washington, DC 20005 tel: [phone] www.appraisalfoundation.org

The [2010-2011] 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice can be viewed, downloaded and printed from http://www. appraisalfoundation.org.

Copies are also available for inspection and copying at the following offices of the Department of State:

Division of Licensing Services N.Y.S. Department of State Alfred E. Smith State Office Building 80 South Swan St., 10th Fl. Albany, NY 12210 tel: [phone]

Division of Licensing Services N.Y.S. Department of State 65 Court Street Buffalo, NY 14202 tel: [phone]

Division of Licensing Services N.Y.S. Department of State 123 William Street New York, NY 10038 tel: [phone]

Division of Licensing Services N.Y.S. Department of State 250 Veterans Memorial Highway Hauppauge, NY 11788 tel: [phone]

Text of proposed rule and any required statements and analyses may be obtained from:

Whitney Clark, NYS Department of State, Division of Licensing Services, Alfred E Smith Office Building, 80 South Swan Street, Albany, NY 12231, [phone], email: [e-mail]

Data, views or arguments may be submitted to:

Same as above.

Public comment will be received until:

45 days after publication of this notice.

Consensus Rule Making Determination

This rule is being proposed as a consensus rule making. The New York State Board of Real Estate Appraisal does not expect that any person is likely to object to its adoption because the proposed rule merely implements a nondiscretionary statutory direction, i.e., the adoption of these appraisal standards is mandated by § 160(d)(1)(d) of the Executive Law.

Section 160-d(1)(d) of the Executive Law provides, in part, that the New York State Board of Real Estate Appraisal shall adopt standards for the development and communication of real estate appraisals; provided, however, that those standards must, at minimum, conform to the uniform standards of professional appraisal promulgated by the Appraisal Standards Board of the Appraisal Foundation.

Acting pursuant to Title IX of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (12 U.S.C.A. §§ 3310-3351), the Appraisal Standards Board has adopted and, from time to time, amended the Uniform Standards of Professional Appraisal Practice, which set forth national standards for developing an appraisal and for reporting its results. This proposal will adopt the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice relating to real estate appraisals. Since § 160-d(1)(d) directs that the standards adopted by the State Board of Real Estate Appraisal conform, at a minimum, to the standards promulgated by the Appraisal Standards Board, the State Board does not expect that any person is likely to object to the adoption of the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice. The State Board has previously adopted the 2002, 2003, 2005, 2006, 2007, 2008-2009, 2010-2011 editions of the Uniform Standards of Professional Appraisal Practice.

Job Impact Statement

Licensed and certified real estate appraisers are currently subject to the 2010-2011 edition of the Uniform Standards of Professional Appraisal Practice, which has been revised by the 2012-2013 edition. Accordingly, the New York State Board of Real Estate Appraisal does not believe that adoption of the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice will have any substantial adverse impact on jobs and employment opportunities.