Action:
USPAP definition 2018-19 update
Action 5104
General Information
Action Summary |
Regulations currently define USPAP to be “the 2016-2017 edition of those standards promulgated by the Appraisal Standards Board of the Appraisal Foundation for use by all appraisers in the preparation of appraisal reports.”
The ASB updates USPAP every two years and has issued the 2018-2019 Edition, which is effective from January 1, 2018, through December 31, 2019. Because the Board’s regulatory definition references a now outdated edition of USPAP, this exempt action is necessary to update 18 VAC 130-20-10 to define USPAP as the 2018-2019 edition. |
Chapters Affected |
Only affects this chapter.
|
Executive Branch Review |
This Action is exempt from Article 2 of the Administrative Process Act.
The normal executive branch review process is not required. As such, it can be submitted directly for publication and
is effective upon publication.
Exempt Citation:
Section 2.2-4006(A)(4)(c)
|
RIS Project |
Yes [005618] |
Is Federal action a driving factor in this regulatory change? If so, please provide a specific reference to the law, regulation
or court case.
Section 1110 [12 U.S.C. 3339] of Title XI of FIRREA requires compliance with USPAP.
|
New Periodic Review |
This action will not be used to conduct a new periodic review.
|
Stages
Stages associated with this regulatory action.
Stage ID |
Stage Type |
Status |
8358
|
Final
|
Stage complete. This regulation became effective on 10/01/2018. |
Contact Information
Name / Title:
|
Anika Coleman
/
Executive Director
|
Address:
|
9960 Mayland Drive, Suite 400
Richmond, VA 23233
|
Email Address:
|
reappraisers@dpor.virginia.gov
|
Phone:
|
(804)367-8552
FAX: (866)826-8863
TDD: ()-
|
This person is the primary contact for this board.