LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE 74th Regular Session April 24, 1995 TO: Honorable Ken Armbrister, Chair IN RE: Senate Bill No. 634 Committee on State Affairs By: Wentworth Senate Austin, Texas FROM: John Keel, Director In response to your request for a Fiscal Note on Senate Bill No. 634 (Relating to the regulation of real estate appraisers.) this office has determined the following: The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill. The bill would amend the Texas Appraiser Licensing and Certification Act to include as a purpose of the Act the protection of the public and to redefine "appraisal" by removing references to federally-related transactions. The bill would also ensure that the state appraiser certification and licensing program conforms to guidelines of the Appraiser Qualifications Board of the Appraisal Foundation. The TALCB would be required to validate evidence of education and experience submitted by an applicant by sampling at least 30 percent of the applications received. The probable fiscal implication of implementing the provisions of the bill during each of the first five years following passage is estimated as follows: Fiscal Probable Cost Out Change in Year of General Number of State Revenue Fund 001 Employees from FY 1995 1996 $55,836 1.0 1997 48,536 1.0 1998 48,536 1.0 1999 48,536 1.0 2000 48,536 1.0 Similar annual fiscal implications would continue as long as the provisions of the bill are in effect. No fiscal implication to units of local government is anticipated. Source: Appraiser Licensing and Certification Board LBB Staff: JK, RM, DF