ARC 9538C

ARC 9538C

REAL ESTATE APPRAISER EXAMINING BOARD[193F]

Notice of Intended Action

Proposing rulemaking related to definitions
and providing an opportunity for public comment

    The Real Estate Appraiser Examining Board hereby proposes to amend Chapter 2, “Definitions,” Iowa Administrative Code.

Legal Authority for Rulemaking

    This rulemaking is proposed under the authority provided in Iowa Code chapters 17A and 543D.

State or Federal Law Implemented

    This rulemaking implements, in whole or in part, Iowa Code chapters 17A, 272C, 481, and 543D and Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA).

Purpose and Summary

    This proposed rulemaking updates the Appraiser Qualifications Board (AQB) Criteria dated January 1, 2022, to the current AQB Criteria dated January 1, 2026. The AQB Criteria establishes the minimum standards for real property appraisers to obtain certification under the provisions of Title XI of the FIRREA.

Regulatory Analysis

    A Regulatory Analysis for this rulemaking was published in the Iowa Administrative Bulletin on July 9, 2025. A public hearing was held on the following date(s):

     ?   August 1, 2025

Fiscal Impact

     This rulemaking has no fiscal impact to the State of Iowa.

Jobs Impact

    After analysis and review of this rulemaking, no impact on jobs has been found.

Waivers

    Any person who believes that the application of the discretionary provisions of this rulemaking would result in hardship or injustice to that person may petition the Board for a waiver of the discretionary provisions, if any, pursuant to 481—Chapter 6.

Public Comment

     Any interested person may submit written or oral comments concerning this proposed rulemaking, which must be received by the Board no later than 4:30 p.m. on October 7, 2025. Comments should be directed to:

Public Hearing

     No public hearing is scheduled at this time. As provided in Iowa Code section 17A.4(1)“b,” an oral presentation regarding this rulemaking may be demanded by 25 interested persons, a governmental subdivision, the Administrative Rules Review Committee, an agency, or an association having 25 or more members.

Review by Administrative Rules Review Committee

    The Administrative Rules Review Committee, a bipartisan legislative committee which oversees rulemaking by executive branch agencies, may, on its own motion or on written request by any individual or group, review this rulemaking at its regular monthly meeting or at a special meeting. The Committee’s meetings are open to the public, and interested persons may be heard as provided in Iowa Code section 17A.8(6).

    The following rulemaking action is proposed:

    ITEM 1.  Amend rule 193F—2.1(543D) as follows:

193F—2.1(543D) Applicability. The following definitions apply to the rules of the real estate appraiser examining board:

    “Appraisal Foundation” means the same as defined in Iowa Code section 543D.2(3).

    “Appraisal subcommittee” means the appraisal subcommittee of the Federal Financial Institutions Examination Council.

    “AQB” means the Appraiser Qualifications Board of the Appraisal Foundation.

    “AQB Criteria” or “the Criteria” means the Real Property Appraiser Qualification Criteria and Interpretations of the Criteria, effective as of January 1, 2022 2026.

    “ASB” means the Appraisal Standards Board of the Appraisal Foundation.

    “Associate real property appraiser” means the same as defined in Iowa Code section 543D.2(6).

    “Certified appraiser” means an individual who has been certified in one of the following two classifications:

     1.   The certified residential real property appraiser classification is qualified to appraise one to four residential units without regard to value or complexity.

     2.   The certified general real property appraiser classification is qualified to appraise all types of real property.

    “Director” means the same as defined in Iowa Code section 543D.2(9)“a.”

    “FFIEC” means the Federal Financial Institutions Examination Council.

    “FIRREA” means the Financial Institutions Reform Recovery and Enforcement Act of 1989.

    “USPAP” means the Uniform Standards of Professional Appraisal Practice published by the Appraisal Foundation, effective as of January 1, 2024.

This rule is intended to implement Iowa Code section 543D.2.