Appraisal Industry Improvement Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 1635 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 1635 To amend the National Housing Act to authorize State-licensed appraisers to conduct appraisals in connection with mortgages insured by the FHA and to ensure compliance with the existing appraiser education and competency requirements, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 7, 2025 Mr. Cramer (for himself and Mr. Gallego) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To amend the National Housing Act to authorize State-licensed appraisers to conduct appraisals in connection with mortgages insured by the FHA and to ensure compliance with the existing appraiser education and competency requirements, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Appraisal Industry Improvement Act''. SEC. 2. APPRAISER STANDARDS. (a) Certification or Licensing.-- (1) In general.--Section 202(g)(5) of the National Housing Act (12 U.S.C. 1708(g)(5)) is amended-- (A) by moving the paragraph two ems to the left; and (B) by striking subparagraphs (A) and (B) and inserting the following: ``(A) be certified or licensed by the State in which the property to be appraised is located, except that a Federal employee who chooses to become State-licensed or certified real estate appraisers need to only be licensed or certified in 1 State or territory to perform real estate appraisal duties as a Federal employee in all States and territories; ``(B) meet the competency requirements described in the Uniform Standards of Professional Appraisal Practice before acc