76-2230 Credential as a licensed residential real property appraiser; applicant; qualifications; upgraded credential; requirements. - Nebraska Statutes

76-2230. Credentialas a licensed residential realproperty appraiser; applicant; qualifications; upgraded credential; requirements.(1) To qualifyfor a credential as a licensed residential realproperty appraiser, an applicant shall:(a) Be at least nineteen years of age;(b) Hold a high school diploma or a certificate of high schoolequivalency or have education acceptable to the board;(c) Have successfully completed no fewer than one hundredfifty class hours, which may include the class hours set forth in section 76-2229.01, in board-approved courses of study which relate to appraisal andwhich include completion of the fifteen-hour National Uniform Standards ofProfessional Appraisal Practice Course as approved by the Appraiser QualificationsBoard as of January 1, 2010,or the equivalent of the course as approved by the Real Property AppraiserBoard. The fifteen-hour course shall be taught by a Uniform Standardsof Professional Appraisal Practice Instructor who is certified by the AppraiserQualifications Board and who is a state-certified appraiser in good standing.The courses of study shall be conducted by an accredited, degree-awarding university, college, or community college, an appraisalsociety, institute, or association, a state or federal agency or commission,a proprietary school, or such other educational provider as may be approvedby the Real Property Appraiser Board andshall be, at a minimum, fifteen class hours in length. Each course shall includea closed-book examination pertinent to the material presented;(d) Have no fewer than two thousand hours of experience inany combination of the following: Fee and staff appraisal; ad valorem taxappraisal; condemnation appraisal; technical review appraisal; appraisal analysis;real estate consulting; highest-and-best-use analysis; and feasibility analysisor study. The required experience shall not be limited to the listed itemsbut shall be acceptable to the board and subject to review and determinationas to conformity with the Uniform Standards of Professional Appraisal Practice.The experience shall have occurred during a period of no fewer than twelvemonths. If requested, evidence acceptable to the board concerning the experienceshall be presented by the applicant in the form of written reports or filememoranda;(e) Within the twelve months following approvalof the applicant by the board, pass an examination approved by the Appraiser QualificationsBoard as of January 1, 2010, and administered by acontracted testing service which demonstrates that the applicanthas:(i) Knowledge of technical terms commonly used in or relatedto appraisal and the writing of appraisal reports;(ii) Knowledge of depreciation theories, cost estimating,methods of capitalization, market data analysis, appraisal mathematics, andeconomic concepts applicable to real estate;(iii) An understanding of the principles of land economics,appraisal processes, and problems encountered in the gathering, interpreting,and processing of data involved in the valuation of real property;(iv) Knowledge of the appraisal of various types of and interestsin real property for various functions and purposes;(v) An understanding of basic real estate law;(vi) An understanding of the types of misconduct for whichdisciplinary proceedings may be initiated;(vii) An understanding of the Uniform Standards of ProfessionalAppraisal Practice;(viii) An understanding of the recognized methods and techniquesnecessary for the development and communication of a credible appraisal; and(ix) Knowledge of such other principles and procedures asmay be appropriate to produce a credible appraisal; and(f) Not have been convicted of any felony or, if so convicted,have had his or her civil rights restored.(2) To qualifyfor an upgraded credential, a licensed residential real property appraisershall satisfy at least one of the appropriate requirements as follows:(a) For acredential as a certified residential real property appraiser, he or she shall(i) complete fifty additional hours of designated core curriculum education,(ii) meet the experience requirements pursuant to subdivision (1)(d) of section 76-2231.01, and (iii) meet the postsecondary educational requirements pursuantto subdivision (1)(b)(i) or (ii) of section 76-2231.01; or(b) For acredential as a certified general real property appraiser, he or she shall(i) complete one hundred fifty additional hours of designated core curriculumeducation, (ii) meet the experience requirements pursuant to subdivision (1)(d)of section 76-2232, and (iii) meet the postsecondary educational requirementspursuant to subdivision (1)(b)(i) or (ii) of section 76-2232.(3)The scope of practice for a licensed residential real property appraiser shall belimited to the appraisal of noncomplex property having one, two, three, orfour residential units with a transaction value of less than one million dollarsand complex property having one, two, three, or four residential units witha transaction value of less than two hundred fifty thousand dollars.(4) If an applicant is applyingfor renewal of a credential as a licensed residential realproperty appraiser, theapplicant shall have successfully completed no fewer than fourteen hours ofinstruction in courses or seminars for each year of the two-year continuingeducation period during which the application is submitted and shall havecompleted the seven-hour National Uniform Standards of Professional AppraisalPractice Update Course as approved by the Appraiser Qualifications Board as of January 1, 2010, or the equivalentof the course as approved by the Real Property Appraiser Board,at a minimum of every two years. The seven-hour course shall be taught bya Uniform Standards of Professional Appraisal Practice Instructor who is certifiedby the Appraiser Qualifications Board and who is a state-certified appraiserin good standing. Credit toward a classroom hour requirement may be grantedonly when the length of the educational offering is at least two hours. Thecourses of study shall be conducted by an accredited, degree-awarding university, college, or community college, an appraisalsociety, institute, or association, a state or federal agency or commission,a proprietary school, or such other educational provider as may be approvedby the Real Property Appraiser Board. Creditmay be granted for educational offerings and for participation other thanas a student as approved by the board.(5) The application for thecredential as a licensed residential realproperty appraiser shall include the applicant's social security number andsuch other information as the board may require. SourceLaws 1990, LB 1153, § 30; Laws 1991, LB 203, § 33; Laws 1994, LB 1107, § 28; Laws 1997, LB 29, § 1; Laws 1997, LB 752, § 205; Laws 2001, LB 162, § 22; Laws 2006, LB 778, § 52; Laws 2007, LB186, § 15; Laws 2008, LB1011, § 10; Laws 2010, LB931, § 13.Effective Date: April 15, 2010