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DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
BOARD OF REAL ESTATE APPRAISERS
4 CCR 725-2

NOTICE OF PROPOSED PERMANENT RULEMAKING HEARING
May 5, 2016

CHAPTER 7:	CONTINUING EDUCATION REQUIREMENTS

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Board of Real Estate Appraisers (the “Board”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules of the Board.

STATEMENT OF BASIS

The statutory basis for the rules titled Rules of the Board of Real Estate Appraisers is Part 7 of Title 12, Article 61, Colorado Revised Statutes, as amended.  

STATEMENT OF PURPOSE

The purpose of this rule is to effectuate the legislative directive to promulgate necessary and appropriate rules in conformity with the statute and the provisions of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989.

SPECIFIC PURPOSE OF THIS RULEMAKING

The specific purpose of this rule is to amend or repeal existing rules with respect to the continuing education requirements for licensed and certified appraisers.
 
Proposed New, Amended and Repealed Rules

[Deleted material shown struck through, new material shown ALL CAPS. Rules, or portions of rules, which are unaffected are reproduced.  Readers are advised to obtain a copy of the complete rules of the Board at www.dora.state.co.us/real-estate/rulemaking/BOREA/index.htm]

CHAPTER 7:	continuing education requirements

7.25   ALL LICENSEES WHO PREPARE AND SIGN AN APPRAISAL FOR A CONSERVATION EASEMENT FOR WHICH A TAX CREDIT MAY BE CLAIMED PURSUANT TO SECTION 39-22-522, C.R.S. MUST COMPLETE THE “CONSERVATION EASEMENT APPRAISER UPDATE COURSE.”  THE CONTENT OF THE “CONSERVATION EASEMENT APPRAISER UPDATE COURSE” WILL BE DEVELOPED BY THE BOARD OF REAL ESTATE APPRAISERS AND PRESENTED BY A PROVIDER APPROVED BY THE BOARD OF REAL ESTATE APPRAISERS.  THE CERTIFICATE OF COURSE COMPLETION MUST BE OBTAINED AND DATED PRIOR TO SIGNING AN APPRAISAL FOR A CONSERVATION EASEMENT FOR WHICH A TAX CREDIT MAY BE CLAIMED.  THE CERTIFICATE OF COURSE COMPLETION SATISIFES THE REQUIREMENTS OF THIS RULE AND IS VALID FROM THE COMPLETION DATE ON THE CERTIFICATE THROUGH DECEMBER 31 OF THE FOLLOWING CALENDAR YEAR. THIS RULE WILL BE EFFECTIVE FOR AN APPRAISAL OF A CONSERVATION EASEMENT SIGNED ON OR AFTER JANUARY 1, 2017. 

[REDLINE AFTER HEARING]

CHAPTER 7:	continuing education requirements

7.25   ALL LICENSEES WHO PREPARE AND SIGN AN APPRAISAL FOR A CONSERVATION EASEMENT FOR WHICH A TAX CREDIT MAY BE CLAIMED PURSUANT TO SECTION 39-22-522, C.R.S. MUST COMPLETE THE “CONSERVATION EASEMENT APPRAISER UPDATE COURSE.”  THE CONTENT OF THE “CONSERVATION EASEMENT APPRAISER UPDATE COURSE” WILL BE DEVELOPED BY THE BOARD OF REAL ESTATE APPRAISERS AND PRESENTED BY A PROVIDER APPROVED BY THE BOARD OF REAL ESTATE APPRAISERS.  THE CERTIFICATE OF COURSE COMPLETION MUST BE OBTAINED AND DATED PRIOR TO THE EFFECTIVE DATE OF AN APPRAISAL FOR A CONSERVATION EASEMENT FOR WHICH A TAX CREDIT MAY BE CLAIMED.  THE CERTIFICATE OF COURSE COMPLETION SATISIFES THE REQUIREMENTS OF THIS RULE AND IS VALID FROM THE COMPLETION DATE ON THE CERTIFICATE THROUGH DECEMBER 31 OF THE FOLLOWING CALENDAR YEAR. THIS RULE WILL BE EFFECTIVE FOR AN APPRAISAL OF A CONSERVATION EASEMENT SIGNED ON OR AFTER JANUARY 1, 2017.