Summary
Allows real estate appraisers licensed in one state to perform work in any state for land deals overseen by the Department of the Interior.
What problem does this solve?
Federal land deals for conservation often faced long delays because there were not enough qualified appraisers in the local area. This law solves the problem by letting the government hire licensed appraisers from any state, creating a larger pool of experts to draw from.
Who does this affect?
- Real property appraisers
- Department of the Interior
- Landowners in transactions with the federal government
What does this law do?
Allows single-state licensing for federal appraisals
Permits a real property appraiser licensed or certified in just one state to provide valuation services in any state for transactions managed by the Secretary of the Interior.
Prioritizes using local appraisers
Requires the Secretary of the Interior to try to use an appraiser licensed in the same state as the property, unless they are unavailable, unqualified, or not cost-competitive.
Requires annual reports to congress
Mandates the Secretary of the Interior to submit annual reports for five years, detailing the law's impact on appraisal timelines, costs, and flexibility.
What is the real world impact?
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Speeds up federal land deals
Fixes delays in land transactions caused by a lack of local appraisers. By expanding the pool of eligible appraisers nationwide, the government can complete conservation projects and other land deals much faster.
When does this start?
This law takes effect on January 4, 2025, and includes several deadlines for reports and policy publication.
Public access to appraisal policies
By April 4, 2025, the Department of the Interior must make all its appraisal policies and guidance available to the public online.