Preproposal statement of inquiry was filed as WSR 04-21-068.
Title of Rule and Other Identifying Information: WAC 308-125-200 Standards of practice.
Hearing Location(s): Department of Licensing, Business and Professions Division, 2000 4th Avenue West, Building #3, Second Floor Conference Room, Olympia, WA 98502, on Tuesday, February 15, 2005, at 8:30 a.m.
Date of Intended Adoption: February 15, 2005.
Submit Written Comments to: David Santhuff, Real Estate Appraiser Program Manager, P.O. Box 9015, Olympia, WA 98507-9015, e-mail email@example.com, fax (360) 570-4981, by February 11, 2005.
Assistance for Persons with Disabilities: Contact Ralph Birkedahl by February 11, 2005, (360) 664-6504.
Purpose of the Proposal and Its Anticipated Effects, Including Any Changes in Existing Rules: Substitute the 2005 edition of the Uniform Standards of Professional Appraisal Practice for the 2004 edition. This publication is the recognized federal standards for real estate appraisal. Incorporation by reference is required because to incorporate the whole text would be unduly cumbersome and expensive.
Reasons Supporting Proposal: That real estate appraisals in Washington be performed in accordance with current generally accepted appraisal standards as evidenced by the most recent amendments to appraisal standards promulgated by the Appraisal Standards Board of the Appraisal Foundation. This is required by Section 1110, Title XI of the Financial Institutions Recovery and Enforcement Act of 1989 (12 U.S.C. 3339).
Statutory Authority for Adoption: RCW 18.140.030(1) and 18.235.030(1).
Statute Being Implemented: March 18, 2005.
Rule is not necessitated by federal law, federal or state court decision.
Agency Comments or Recommendations, if any, as to Statutory Language, Implementation, Enforcement, and Fiscal Matters: Enforcement of administrative disciplinary actions are dependent upon the use of the 2005 Uniform Standards of Professional Appraisal Practice publication.
Name of Proponent: Department of Licensing, Real Estate Appraiser Program, governmental.
Name of Agency Personnel Responsible for Drafting, Implementation and Enforcement: David Santhuff, Olympia, (360) 664-6504.
No small business economic impact statement has been prepared under chapter 19.85 RCW. This proposed change only adopts the current edition of the Uniform Standards of Professional Appraisal Practice.
A cost-benefit analysis is not required under RCW 34.05.328. This proposed change has no financial impact on the department or licensees.
January 5, 2005
AMENDATORY SECTION(Amending WSR 04-04-052, filed 1/30/04, effective 3/1/04)
WAC 308-125-200 Standards of practice. (1) The standard of practice governing real estate appraisal activities will be the ((
2004)) 2005 edition of the Uniform Standards of
Professional Appraisal Practice of the Appraisal Foundation. A copy of the Uniform Standards of Professional Appraisal
Practice is available for review and inspection at the office
of the Real Estate Appraiser Unit Office, Olympia, Washington.
The Uniform Standards of Professional Appraisal Practice is a
copyright document. Copy of the full text may be obtained
from the Appraisal Foundation at The Appraisal Foundation,
P.O. Box 96734, Washington, DC 20090-6734.
(2) Expert review appraisers as defined by RCW 18.140.010(11) while performing expert reviews pursuant to chapter 18.140 RCW are exempt from the Uniform Standards of Professional Appraisal Practice, Standard 3 review provisions while performing expert reviews for the director.
[Statutory Authority: RCW 18.140.030(1) and 18.235.030(1). 04-04-052, § 308-125-200, filed 1/30/04, effective 3/1/04. Statutory Authority: RCW 18.140.030 (16), (17). 03-02-040, § 308-125-200, filed 12/24/02, effective 1/24/03; 02-03-012, § 308-125-200, filed 1/4/02, effective 2/4/02. Statutory Authority: [RCW 18.140.030 (16), (17) and chapter 18.140 RCW.] 00-23-038, § 308-125-200, filed 11/9/00, effective 12/10/00. Statutory Authority: RCW 43.24.086. 00-04-057, § 308-125-200, filed 1/28/00, effective 2/28/00; 99-04-074, § 308-125-200, filed 2/2/99, effective 3/5/99; 98-17-083, § 308-125-200, filed 8/18/98, effective 9/18/98. Statutory Authority: RCW 18.140.030. 91-04-074, § 308-125-200, filed 2/5/91, effective 3/8/91.]