II 

118TH CONGRESS 

1ST SESSION S. 2692 

To amend the Financial Institutions Reform, Recovery, and Enforcement 

Act of 1989 to establish a Portal for Appraiser Credentialing and AMC 

Registration Information, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JULY 27, 2023 

Mr. TESTER (for himself and Mr. ROUNDS) introduced the following bill; 

which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs 

A BILL 

To amend the Financial Institutions Reform, Recovery, and 

Enforcement Act of 1989 to establish a Portal for Appraiser Credentialing and AMC Registration Information, 

and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Portal for Appraisal 

5 Licensing Act of 2023’’. 


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1 SEC. 2. PORTAL FOR APPRAISER CREDENTIALING AND 

2 AMC REGISTRATION INFORMATION. 

3 Section 1103 of the Financial Institutions Reform, 

4 Recovery, and Enforcement Act of 1989 (12 U.S.C. 3332) 

5 is amended— 

6 (1) in subsection (a)— 

7 (A) in paragraph (3), by striking ‘‘and’’ at 

8 the end; 

9 (B) in paragraph (4), by striking the pe10 riod on the end and inserting a semicolon; 

11 (C) in paragraph (5)— 

12 (i) by striking ‘‘. The report’’ and in13 serting ‘‘, and which’’; and 

14 (ii) by striking the period on the end 

15 and inserting a semicolon; 

16 (D) in paragraph (6), by striking the pe17 riod on the end and inserting ‘‘; and’’; and 

18 (E) by adding at the end the following: 

19 ‘‘(7) establish and maintain the Portal for Ap20 praiser Credentialing and AMC Registration Infor21 mation described in subsection (c).’’; and 

22 (2) by adding at the end the following: 

23 ‘‘(c) PORTAL FOR APPRAISER CREDENTIALING AND

24 AMC REGISTRATION INFORMATION.— 

25 ‘‘(1) IN GENERAL.—The Appraisal Sub26 committee shall establish and maintain a cloudVerDate Sep 11 2014 04:40 Aug 17, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S2692.IS S2692

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1 based system to be called the ‘Portal for Appraiser 

2 Credentialing and AMC Registration Information’ 

3 (referred to in this subsection as the ‘Portal’), 

4 which— 

5 ‘‘(A) shall provide appraisers and appraisal 

6 management companies a central depository for 

7 license, certification, and registration applica8 tions and renewals; 

9 ‘‘(B) shall provide connectivity with State 

10 appraiser certifying and licensing agencies for 

11 their access to all application and renewal infor12 mation, including completed qualifying and con13 tinuing education, experience logs, examination 

14 results, background check information, where 

15 applicable, and any other information the Ap16 praisal Subcommittee determines appropriate 

17 (after consideration of any advice from the ad18 visory committee established under paragraph 

19 (6)); 

20 ‘‘(C) shall make available payment of all li21 cense, certification, and registration fees and 

22 delivery of letters of good standing to State ap23 praiser certifying and licensing agencies; and 

24 ‘‘(D) may utilize an existing platform, if 

25 available. 


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1 ‘‘(2) BACKGROUND CHECKS.— 

2 ‘‘(A) ACCESS TO RECORDS.—Notwith3 standing any other provision of law, in pro4 viding appraisal functions, the Attorney General 

5 shall provide access to all criminal history infor6 mation to the appropriate State officials respon7 sible for regulating State-licensed and State8 certified appraisers or appraisal management 

9 companies to the extent criminal history back10 ground checks are required under the laws of 

11 the State for the licensing or certification of 

12 such appraisers and registering appraisal man13 agement companies. 

14 ‘‘(B) AGENT.—For the purposes of this 

15 paragraph and in order to reduce the points of 

16 contact which the Federal Bureau of Investiga17 tion may have to maintain for purposes of sub18 paragraph (A), the Appraisal Subcommittee 

19 may be used as a channeling agent of the 

20 States for requesting and distributing informa21 tion between the Department of Justice and the 

22 appropriate State agencies. 

23 ‘‘(C) OTHER PERSONS REQUIRING A BACK24 GROUND CHECK.—To the extent criminal his25 tory background checks conducted by the FedVerDate Sep 11 2014 04:40 Aug 17, 2023 Jkt 039200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S2692.IS S2692

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1 eral Bureau of Investigation are required under 

2 the laws of a State, appraisers and any other 

3 person that may require such a background 

4 check shall submit fingerprints to the Portal 

5 and authorize the Appraisal Subcommittee to 

6 process a criminal background check with the 

7 Federal Bureau of Investigation. 

8 ‘‘(D) TREATMENT OF BACKGROUND

9 CHECKS.—Background checks completed under 

10 this paragraph shall satisfy any third-party 

11 oversight requirements imposed by Federal fi12 nancial institutions regulatory agencies. 

13 ‘‘(3) ADDITIONAL CONTENT INFORMATION.— 

14 ‘‘(A) EDUCATION COURSES.—For purposes 

15 of the education information maintained by the 

16 Portal— 

17 ‘‘(i) a State appraiser certifying and 

18 licensing agency may notify the Portal of 

19 which particular courses have been ap20 proved by the agency; and 

21 ‘‘(ii) both education providers and 

22 State appraiser certifying and licensing 

23 agencies of States may submit to the Por24 tal lists of individuals who have completed 

25 such courses. 


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1 ‘‘(B) UNIQUE IDENTIFIERS.—The Ap2 praisal Subcommittee shall use a unique identi3 fier to identify each individual who submits an 

4 application through the Portal or otherwise 

5 makes use of the Portal. The Appraisal Sub6 committee may also use a unique identifier to 

7 identify each appraisal management company 

8 that submits an application through the Portal 

9 or otherwise makes use of the Portal. 

10 ‘‘(4) NO EFFECT ON STATES’ RIGHTS.—States 

11 shall retain the ability to act independently upon li12 cense, certification, and registration applications and 

13 renewals for appraisers and appraisal management 

14 companies. 

15 ‘‘(5) TREATMENT OF FEES.—State 

16 credentialing fees and any State-specific information 

17 shall continue to be provided to States by appraisers 

18 and appraisal management companies, but trans19 mitted through the Portal via a streamlined process 

20 and application. 

21 ‘‘(6) ADVISORY COMMITTEE.— 

22 ‘‘(A) IN GENERAL.—The Appraisal Sub23 committee shall establish an advisory committee 

24 to advise the Appraisal Subcommittee on the 

25 establishment of the Portal. 


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1 ‘‘(B) MEMBERSHIP.—The advisory com2 mittee shall consist of representatives of indus3 try associations, appraisers, lenders, appraisal 

4 management companies, and State appraiser 

5 certifying and licensing agencies, to be deter6 mined by the Appraisal Subcommittee. 

7 ‘‘(7) FUNDING.— 

8 ‘‘(A) USER FEES.—For the sole purpose of 

9 paying for the cost of establishing and main10 taining the Portal and carrying out the back11 ground checks required under paragraph 

12 (2)(A), the Appraisal Subcommittee may charge 

13 a reasonable fee to individuals and appraisal 

14 management companies making use of the Por15 tal. The fee shall be revenue neutral to the 

16 costs of developing and maintaining the Portal. 

17 ‘‘(B) STATE GRANTS.—The Appraisal Sub18 committee shall make grants available to State 

19 appraiser certifying and licensing agencies, in 

20 accordance with policies to be developed by the 

21 Appraisal Subcommittee, to support the efforts 

22 of such agencies to connect State systems with 

23 the Portal.’’. 

Æ 


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