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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5520 Introduced in House (IH)]
<DOC>
119th CONGRESS
1st Session
H. R. 5520
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 HOUSE OF REPRESENTATIVES
September 19, 2025
Mr. Loudermilk (for himself, Mr. Meuser, Mr. Fitzgerald, Ms. Lee of
Nevada, Mr. Neguse, Ms. Pettersen, and Mr. Kustoff) introduced the
following bill; which was referred to the Committee on Financial
Services
_______________________________________________________________________
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.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Portal for Appraisal Licensing Act
of 2025''.
SEC. 2. PORTAL FOR APPRAISER CREDENTIALING AND AMC REGISTRATION
INFORMATION.
Section 1103 of the Financial Institutions Reform, Recovery, and
Enforcement Act of 1989 (12 U.S.C. 3332) is amended--
(1) in subsection (a)--
(A) in paragraph (3), by striking ``and'' at the
end;
(B) in paragraph (4), by striking the period on the
end and inserting a semicolon;
(C) in paragraph (5)--
(i) by striking ``. The report'' and
inserting ``, and which''; and
(ii) by striking the period on the end and
inserting a semicolon;
(D) in paragraph (6), by striking the period on the
end and inserting ``; and''; and
(E) by adding at the end the following:
``(7) establish and maintain the Portal for Appraiser
Credentialing and AMC Registration Information described under
subsection (c).''; and
(2) by adding at the end the following:
``(c) Portal for Appraiser Credentialing and AMC Registration
Information.--
``(1) In general.--The Appraisal Subcommittee shall
establish and maintain a cloud-based system to be called the
`Portal for Appraiser Credentialing and AMC Registration
Information' (the `Portal'), which--
``(A) shall provide appraisers and appraisal
management companies a central depository for license,
certification, and registration applications and
renewals;
``(B) shall provide connectivity with State
appraiser certifying and licensing agencies for their
access to all application and renewal information,
including completed qualifying and continuing
education, experience logs, examination results,
background check information, where applicable, and any
other information the Appraisal Subcommittee determines
appropriate (after consideration of any advice from the
advisory committee established under paragraph (6));
``(C) shall make available payment of all license,
certification, and registration fees and delivery of
letters of good standing to State appraiser certifying
and licensing agencies; and
``(D) may utilize an existing platform, if
available.
``(2) Background checks.--
``(A) Access to records.--Notwithstanding any other
provision of law, in providing appraisal functions, the
Attorney General shall provide access to all criminal
history information to the appropriate State officials
responsible for regulating State-licensed and State-
certified appraisers or appraisal management companies
to the extent criminal history background checks are
required under the laws of the State for the licensing
or certification of such appraisers and registering
appraisal management companies.
``(B) Agent.--For the purposes of this paragraph
and in order to reduce the points of contact which the
Federal Bureau of Investigation may have to maintain
for purposes of subparagraph (A), the Appraisal
Subcommittee may be used as a channeling agent of the
States for requesting and distributing information
between the Department of Justice and the appropriate
State agencies.
``(C) Other persons requiring a background check.--
To the extent FBI criminal history background checks
are required under the laws of a State, appraisers and
any other person that may require such a background
check shall submit fingerprints to the Portal and
authorize the Appraisal Subcommittee to process a
criminal background check with the Federal Bureau of
Investigation.
``(D) Treatment of background checks.--Background
checks completed under this paragraph shall satisfy any
third-party oversight requirements imposed by Federal
financial institutions regulatory agencies.
``(3) Additional content information.--
``(A) Education courses.--For purposes of the
education information maintained by the Portal--
``(i) a State appraiser certifying and
licensing agency may notify the Portal of which
particular courses have been approved by the
agency; and
``(ii) both education providers and State
appraiser certifying and licensing agencies of
States may submit to the Portal lists of
individuals who have completed such courses.
``(B) Unique identifiers.--The Appraisal
Subcommittee shall use a unique identifier to identify
each individual who submits an application through the
Portal or otherwise makes use of the Portal. The
Appraisal Subcommittee may also use a unique identifier
to identify each appraisal management company that
submits an application through the Portal or otherwise
makes use of the Portal.
``(4) No effect on states' rights.--States shall retain the
ability to act independently upon license, certification, and
registration applications and renewals for appraisers and
appraisal management companies.
``(5) Treatment of fees.--State credentialing fees and any
State-specific information shall continue to be provided to
States by appraisers and appraisal management companies, but
transmitted through the Portal via a streamlined process and
application.
``(6) Advisory committee.--
``(A) In general.--The Appraisal Subcommittee shall
establish an advisory committee to advise the Appraisal
Subcommittee on the establishment of the Portal.
``(B) Membership.--The advisory committee shall
consist of representatives of industry associations,
appraisers, lenders, appraisal management companies,
and State appraiser certifying and licensing agencies,
to be determined by the Appraisal Subcommittee.
``(7) Funding.--
``(A) User fees.--For the sole purpose of paying
for the cost of establishing and maintaining the Portal
and carrying out the background checks required under
paragraph (2)(A), the Appraisal Subcommittee may charge
a reasonable fee to individuals and appraisal
management companies making use of the Portal. The fee
shall be revenue neutral to the costs of developing and
maintaining the Portal.
``(B) State grants.--The Appraisal Subcommittee
shall make grants available to State appraiser
certifying and licensing agencies, in accordance with
policies to be developed by the Appraisal Subcommittee,
to support the efforts of such agencies to connect
State systems with the Portal.''.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
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