Florida Senate - 2015              PROPOSED COMMITTEE SUBSTITUTE
       Bill No. CS for SB 608
       
       
       
       
       
                               Ì138190%Î138190                          
       
       594-02432-15                                                    
       Proposed Committee Substitute by the Committee on Fiscal Policy
       (Appropriations Subcommittee on General Government)
    1                        A bill to be entitled                      
    2         An act relating to real estate brokers and appraisers;
    3         amending s. 475.15, F.S.; requiring the Florida Real
    4         Estate Commission to adopt certain rules pertaining to
    5         broker registration on a temporary, emergency basis;
    6         amending s. 475.17, F.S.; clarifying education
    7         requirements that apply for postlicensure and initial
    8         real estate licensure; amending s. 475.183, F.S.;
    9         providing that the commission may reinstate the
   10         license of an individual in certain circumstances;
   11         amending s. 475.611, F.S.; revising the supervision
   12         requirements for registered trainee appraisers;
   13         amending s. 475.612, F.S.; revising the supervision
   14         requirements for select graduate students; amending s.
   15         475.621, F.S.; providing that the department shall
   16         collect annual fees set by and transmitted to the
   17         appraisal subcommittee; amending s. 475.629, F.S.;
   18         requiring an appraiser to prepare and retain a work
   19         file in certain circumstances; requiring the work file
   20         to be retained for a specified period; requiring the
   21         work file to contain certain documents; requiring
   22         appraisal management companies to retain certain
   23         items; removing the prohibition that the Department of
   24         Business and Professional Regulation may not inspect
   25         or copy the records except in certain circumstances;
   26         amending s. 475.6295, F.S.; providing that duly
   27         authorized agents and employees of the department may
   28         inspect an appraisal management company at all
   29         reasonable hours; amending s. 475.631, F.S.; removing
   30         the board’s authority to enter into written agreements
   31         with similar licensing or certification authorities;
   32         providing an effective date.
   33          
   34  Be It Enacted by the Legislature of the State of Florida:
   35  
   36         Section 1. Section 475.15, Florida Statutes, is amended to
   37  read:
   38         475.15 Registration and licensing of general partners,
   39  members, officers, and directors of a firm.—Each partnership,
   40  limited liability partnership, limited liability company, or
   41  corporation which acts as a broker shall register with the
   42  commission and shall renew the licenses or registrations of its
   43  members, officers, and directors for each license period.
   44  However, if the partnership is a limited partnership, only the
   45  general partners must be licensed brokers or brokerage
   46  corporations registered pursuant to this part. If the license or
   47  registration of at least one active broker member is not in
   48  force, the registration of a corporation, limited liability
   49  company, limited liability partnership, or partnership is
   50  canceled automatically during that period of time. The
   51  commission shall adopt rules that allow a brokerage to register
   52  a broker on a temporary, emergency basis if a sole broker of a
   53  brokerage dies or is unexpectedly unable to remain a broker.
   54         Section 2. Subsection (6) of section 475.17, Florida
   55  Statutes, is amended to read:
   56         475.17 Qualifications for practice.—
   57         (6) The postlicensure education requirements of this
   58  section, and the education course requirements for one to become
   59  initially licensed, do not apply to any applicant or licensee
   60  who has received a 4-year degree, or higher, in real estate from
   61  an accredited institution of higher education.
   62         Section 3. Subsection (4) is added to section 475.183,
   63  Florida Statutes, to read:
   64         475.183 Inactive status.—
   65         (4) The commission may reinstate the license of an
   66  individual whose license has become void if the commission
   67  determines that the individual failed to comply because of
   68  illness or economic hardship, as defined by rule. The individual
   69  must apply to the commission for reinstatement within 6 months
   70  after the date that the license becomes void. Such individual
   71  must meet all continuing education requirements prescribed by
   72  law, pay appropriate licensing fees, and otherwise be eligible
   73  for renewal of licensure under this section.
   74         Section 4. Paragraph (r) of subsection (1) of section
   75  475.611, Florida Statutes, is amended to read:
   76         475.611 Definitions.—
   77         (1) As used in this part, the term:
   78         (r) “Registered trainee appraiser” means a person who is
   79  registered with the department as qualified to perform appraisal
   80  services only under the direct supervision of a licensed or
   81  certified appraiser. A registered trainee appraiser may accept
   82  appraisal assignments only from her or his primary or secondary
   83  supervisory appraiser.
   84         Section 5. Subsection (5) of section 475.612, Florida
   85  Statutes, is amended to read:
   86         475.612 Certification, licensure, or registration
   87  required.—
   88         (5) This section does not apply to any full-time graduate
   89  student who is enrolled in a degree program in appraising at a
   90  college or university in this state, if the student is acting
   91  under the direct supervision of a certified or licensed
   92  appraiser and is engaged only in appraisal activities related to
   93  the approved degree program. Any appraisal report by the student
   94  must be issued in the name of the supervising individual who is
   95  responsible for the report’s content.
   96         Section 6. Subsection (2) of section 475.621, Florida
   97  Statutes, is amended to read:
   98         475.621 Registry of licensed and certified appraisers.—
   99         (2) The department shall collect from such individuals who
  100  perform or seek to perform appraisals in federally related
  101  transactions, an annual fee as set by, and transmitted to, the
  102  appraisal subcommittee to be transmitted to the Federal
  103  Financial Institutions Examinations Council on an annual basis.
  104         Section 7. Section 475.629, Florida Statutes, is amended to
  105  read:
  106         475.629 Retention of records.—An appraiser registered,
  107  licensed, or certified under this part or an appraisal
  108  management company registered under this part shall prepare and
  109  retain a work file for each appraisal, appraisal review, or
  110  appraisal consulting assignment. This work file shall be
  111  retained, for 5 years or the period specified in the Uniform
  112  Standards of Professional Appraisal Practice, whichever is
  113  greater. The work file shall contain, original or true copies of
  114  any contracts engaging the appraiser’s or appraisal management
  115  company’s services, appraisal reports, and supporting data
  116  assembled and formulated by the appraiser or company in
  117  preparing appraisal reports or engaging in appraisal management
  118  services and all other data, information, and documentation
  119  required by the standards for the development or communication
  120  of a real estate appraisal as approved and adopted by the
  121  Appraisal Standards Board of The Appraisal Foundation, as
  122  established by rule of the board. Except as otherwise specified
  123  in the Uniform Standards of Professional Appraisal Practice, the
  124  period for retention of the records applicable to each
  125  engagement of the services of the appraiser or appraisal
  126  management company runs from the date of the submission of the
  127  appraisal report to the client. Appraisal management companies
  128  shall also retain the company accounts, correspondence,
  129  memoranda, papers, books, and other records in accordance with
  130  administrative rules adopted by the board. These records must be
  131  made available by the appraiser or appraisal management company
  132  for inspection and copying by the department upon reasonable
  133  notice to the appraiser or company. However, the department may
  134  not inspect or copy the records of an appraisal management
  135  company except in connection with a pending investigation or
  136  complaint. If an appraisal has been the subject of or has served
  137  as evidence for litigation, reports and records must be retained
  138  for at least 2 years after the trial or the period specified in
  139  the Uniform Standards of Professional Appraisal Practice,
  140  whichever is greater.
  141         Section 8. Section 475.6295, Florida Statutes, is amended
  142  to read:
  143         475.6295 Authority to inspect.—Duly authorized agents and
  144  employees of the department shall have the power to inspect in a
  145  lawful manner at all reasonable hours any appraisal management
  146  company, appraiser or appraisal office certified, registered, or
  147  licensed under this chapter, for the purpose of determining if
  148  any of the provisions of this chapter, chapter 455, or any rule
  149  promulgated under authority of either chapter is being violated.
  150         Section 9. Section 475.631, Florida Statutes, is amended to
  151  read:
  152         475.631 Nonresident licenses and certifications.—
  153         (1) Notwithstanding the requirements for certification set
  154  forth in ss. 475.615 and 475.616, the board may enter into
  155  written agreements with similar licensing or certification
  156  authorities of other states, territories, or jurisdictions of
  157  the United States to ensure for state-certified appraisers
  158  nonresident licensure or certification opportunities comparable
  159  to those afforded to nonresidents by this section. Whenever the
  160  board determines that another jurisdiction does not offer
  161  nonresident licensure or certification to state-certified
  162  appraisers substantially comparable to those afforded to
  163  certified appraisers or licensees of that jurisdiction by this
  164  section, the board shall require certified appraisers or
  165  licensees of that jurisdiction who apply for nonresident
  166  certification to meet education, experience, and examination
  167  requirements substantially comparable to those required by that
  168  jurisdiction with respect to state-certified appraisers who seek
  169  nonresident licensure or certification, not to exceed such
  170  requirements as are prescribed in ss. 475.615 and 475.616.
  171         (1)(2)(a) Any resident state-certified appraiser who
  172  becomes a nonresident shall, within 60 days, notify the board of
  173  the change in residency and comply with nonresident
  174  requirements. Failure to notify and comply is a violation of the
  175  license law, subject to the penalties in s. 475.624.
  176         (2)(b) All nonresident applicants, certified appraisers,
  177  and licensees shall comply with all requirements of board rules
  178  and this part. The board may adopt rules pursuant to ss.
  179  120.536(1) and 120.54 necessary for the regulation of
  180  nonresident certified appraisers and licensees.
  181         Section 10. This act shall take effect July 1, 2015.