Purpose of the Bill

The bill aims to create a framework for imposing disciplinary actions on real estate appraisers in Minnesota. It seeks to ensure that sanctions for professional misconduct are consistent and appropriately guided by established standards.

Main Provisions

• Use of a Sanction Matrix: The bill mandates the commissioner to use the Voluntary Disciplinary Sanction Matrix published by the Appraisal Foundation when determining penalties for real estate appraisers.
• Flexibility for Mitigating Circumstances: While the sanction matrix provides a standard guideline, the bill allows the commissioner to adjust penalties on a case-by-case basis if there are reasonable mitigating circumstances.

Significant Changes to Existing Law

• The bill introduces a structured guideline—the Voluntary Disciplinary Sanction Matrix—to standardize disciplinary actions against real estate appraisers, providing consistency in such sanctions.

Relevant Terms

Real estate appraisers, Disciplinary actions, Sanction Matrix, Appraisal Foundation, Mitigating circumstances, Commissioner adjustments.