Under IC 4-22-2-24, notice is hereby given that on March 7, 2012, at 9:00 a.m., at the Indiana Government Center South, 402 West Washington Street, Room W064, Indianapolis, Indiana, the Indiana Real Estate Commission will hold a public hearing on proposed rules that update and amend 876 IAC 3-6-2 and 876 IAC 3-6-3 to incorporate by reference the 2012-2013 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) and update the revisions to USPAP based upon the changes in the 2012-2013 edition.

This rule change is required due to a change in federal guidelines. Federal government requires appraisers to use and comply with the Uniform Standards of Professional Appraisal Practice. There will be minimal additional requirements and costs to appraisers and small business in complying with this rule.

Copies of these rules are now on file at the Indiana Government Center South, 402 West Washington Street, Room W072 and Legislative Services Agency, Indiana Government Center North, 100 North Senate Avenue, Room N201, Indianapolis, Indiana and are open for public inspection.