TITLE 876 INDIANA REAL ESTATE COMMISSION

Under IC 4-22-2-23, the Indiana Real Estate Commission intends to adopt a rule concerning the following:

OVERVIEW: Amends 876 IAC 3-1-3 to update the definition of "license". Amends 876 IAC 3-2-4 concerning expiration of licenses. Amends 876 IAC 3-2-5 concerning reinstatement of expired licenses. Adds 876 IAC 3-3-2.7 to incorporate criteria of classifications. Amends 876 IAC 3-3-3.1 to update education criteria. Amends 876 IAC 3-3-4.1 to lower educational requirements for certified residential appraiser applicants. Adds 876 IAC 3-3-4.2 to allow the minimum requirements for education for certified residential appraisers to include alternatives that were recently made available by the Appraisal Qualifications Board; lowers the requirements for residential appraisers by giving an alternative to the bachelor's degree requirement. Amends 876 IAC 3-3-5.1 concerning educational requirements for certified general appraisers. Amends 876 IAC 3-3-10 to update language that refers to the Uniform Standards of Professional Appraisal Practice (USPAP) Standards #2. Amends 876 IAC 3-3-11 to update appraisal report labels; to clarify which appraisal activities may be counted as appraisal experience; to correct a cross-reference; to clarify the scope of work that licensed trainees are prohibited from performing. Amends 876 IAC 3-3-12 to clarify which appraisal activities may be counted as appraisal experiences; to correct a cross-reference; to clarify the scope of work that licensed trainees are prohibited from performing. Amends 876 IAC 3-3-13.1 to clarify that applicants may claim credit for the actual time spent on various appraisal activities up to the maximum values established by the board; to update the hour value of experience to simplify the charts and include specific assignment categories; to allow the board to grant credit for appraisal work above the maximum hours set forth in the rule. Amends 876 IAC 3-5-1 concerning continuing education requirements. Amends 876 IAC 3-5-1.5 concerning mandatory continuing education courses. Amends 876 IAC 3-5-7 concerning instructor requirements for continuing education. Amends 876 IAC 3-6-2 and 876 IAC 3-6-3 to update references to current Uniform Standards of Professional Appraisal Practice standards. Amends 876 IAC 3-6-8 to remove duplicative language. Amends 876 IAC 3-6-9 concerning Indiana licensed trainee appraisers use and supervision. Amends 876 IAC 3-6-10 concerning licensed trainee appraisers and the supervisor/trainee appraiser course. Repeals 876 IAC 3-1-2, 876 IAC 3-3-8, 876 IAC 3-5-2, and 876 IAC 3-6-6. Makes technical corrections and eliminates outdated provisions. Effective 30 days after filing with the Publisher. Written comments may be addressed to the Small Business Regulatory Coordinator for this rule. Statutory authority: IC 25-34.1-3-8.

For purposes of IC 4-22-2-28.1, the Small Business Regulatory Coordinator for this rule is:

Amy Hall

Board Director

Professional Licensing Agency

Indiana Government Center South

402 West Washington Street, Room W072

Indianapolis, IN 46204

(317) 234-3048

ahall1@pla.in.gov

For purposes of IC 4-22-2-28.1, the Small Business Ombudsman designated by IC 5-28-17-6 is:

Matthew Jaworowski

Small Business Ombudsman

Indiana Economic Development Corporation

One North Capitol, Suite 700

Indianapolis, IN 46204

(317) 650-0126

majaworowski@iedc.in.gov

Resources available to regulated entities through the small business ombudsman include the ombudsman's duties stated in IC 5-28-17-6, specifically IC 5-28-17-6(9), investigating and attempting to resolve any matter regarding compliance by a small business with a law, rule, or policy administered by a state agency, either as a party to a proceeding or as a mediator.

DIN: 20221123-IR-876220348NIA

Composed: May 04,2024 1:55:24PM EDT

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