Committee approves increased regulation of appraisal industry

INDIANAPOLIS, IN - The Senate Commerce, Public Policy and Interstate Cooperation committee approved House Bill (HB) 1235 cosponsored by State Sen. Karen Tallian (D-Portage) with a unanimous vote today. The proposal would require increased regulation in the real estate appraising industry by requiring appraisal management companies to register with the state Real Estate Appraiser Licensure and Certification Board.

"This is a simple bill to ensure the protection of the consumer, these companies, and the real estate market as a whole," said Sen. Tallian.

Sen. Tallian said the registration requirement will increase the level of transparency in the process and ensure the professionalism of the real estate industry in Indiana.

The bill will now move to the senate floor for consideration by the full body.

For more information on Sen. Tallian, her legislative agenda or other State Senate business call 1-800-382-9467 or visit www.senatedemocrats.in.gov.