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U.S. Code as of:
01/19/04
Section 3338. Roster of State certified or licensed appraisers; authority to collect and transmit fees
(a) In general
Each State with an appraiser certifying and licensing agency
whose certifications and licenses comply with this chapter, shall -
(1) transmit to the Appraisal Subcommittee, no less than
annually, a roster listing individuals who have received a State
certification or license in accordance with this chapter; and
(2) collect from such individuals who perform or seek to
perform appraisals in federally related transactions, an annual
registry fee of not more than $25, such fees to be transmitted by
the State agencies to the Council on an annual basis.
Subject to the approval of the Council, the Appraisal Subcommittee
may adjust the dollar amount of registry fees, up to a maximum of
$50 per annum, as necessary to carry out its functions under this
chapter.
(b) Use of amounts appropriated or collected
Amounts appropriated for or collected by the Appraisal
Subcommittee under this section shall be used -
(1) to maintain a registry of individuals who are qualified and
eligible to perform appraisals in connection with federally
related transactions;
(2) to support its activities under this chapter;
(3) to reimburse the general fund of the Treasury for amounts
appropriated to and expended by the Appraisal Subcommittee during
the 24-month startup period following August 9, 1989; and
(4) to make grants in such amounts as it deems appropriate to
the Appraisal Foundation, to help defray those costs of the
foundation relating to the activities of its Appraisal Standards
and Appraiser Qualification Boards.
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