While this bill alone would not require SOS to acquire additional staff, SOS assumes the cumulative effect of additional Register and Code publishing duties could, at some point, require additional staff. However, Oversight assumes SOS could increase fees to cover any additional costs, per Section 536.033, RSMo. This proposal could result in a direct fiscal impact to small businesses, since it would require those dealing in real estate appraisals to obtain a license. No license or certificate would be issued under the provisions of Chapter 339, RSMo, to a partnership, association, corporation, firm or group. The provisions of Chapter 339, RSMo, should not be construed to require a license or certificate for certain persons as set out in subsection 5 of section 339.501 of this act.
Current law provides for two classes of certified real estate appraisers.
These are residential real estate appraiser and general real estate appraiser. This act adds state-licensed real estate appraiser to the list. The act contains provisions covering license renewal, failure to renew in a specified time and renewal of an expired license. The act also deletes the thirty hour requirement for continuing education. This requirement will be set by the Appraisal Qualification Board with the approval of the Real Estate Commission.