New York A 5070: Establishes the real estate appraiser task force

Bill Text

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A05070 Summary:

BILL NOA05070 

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SAME ASNo Same As

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SPONSORO'Pharrow

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COSPNSR

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MLTSPNSR

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Provides that the commissioner of taxation and finance shall convene a ten member real estate appraiser task force to investigate and identify the misevaluation of the asset of this category of professionals and develop ways to overcome the biased behavior; makes related provisions.

Go to top A05070 Actions:

BILL NOA05070 

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02/12/2025referred to real property taxation

01/07/2026referred to real property taxation

Go to topA05070 Committee&nbspVotes:

Go to topA05070 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA05070 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 5070

 2025-2026 Regular Sessions

 IN ASSEMBLY

 February 12, 2025
 ___________

 Introduced by M. of A. O'PHARROW -- read once and referred to the
 Committee on Real Property Taxation

 AN ACT in relation to establishing the real estate appraiser task force;
 and to repeal such provisions upon expiration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Real estate appraiser task force. The commissioner of taxa-
 2 tion and finance shall convene a real estate appraiser task force to
 3 investigate and identify the misevaluation of the asset of this category
 4 of professionals and develop ways to overcome the biased behavior. The
 5 purpose of the task force shall be to study and prepare a report which
 6 shall include, but not be limited to, the following:
 7 1. Harmonize to the greatest extent possible the standards and guid-
 8 ance with respect to appraisals. More specific objectives should include
 9 but not be limited to, the following:
 10 (a) identify specific causes of such racial disparities and recommend
 11 changes to address such causes; and
 12 (b) strengthening guardrails against unlawful discrimination in all
 13 stages of residential valuation.
 14 2. Enhancing fair housing enforcement and driving accountability in
 15 the industry in order to guarantee a long term impact. More specific
 16 objectives should include but not be limited to, the following:
 17 (a) strengthen coordination among stakeholders to identify discrimi-
 18 nation in appraisals and other valuation processes; and
 19 (b) improve the collection of data to study and monitor valuation
 20 bias.
 21 3. Build a well-trained, accessible, and diverse appraiser workforce.
 22 More specific objectives should include but are not limited to, the
 23 following:

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD09136-01-5

 A. 5070 2

 1 (a) evaluating whether there are any barriers to entry that are
 2 disproportionately preventing minorities from entering into the
 3 appraisal profession; and
 4 (b) require appraisal anti-bias, fair housing, and fair lending train-
 5 ing for all appraisers in collaboration with the appraisal industry.
 6 4. Empowering consumers to take action. More specific objectives
 7 should include but not be limited to, the following:
 8 (a) identify and clarify government resources for consumers who
 9 believe they may have experienced appraisal bias;
 10 (b) train housing counselors to empower them to assist potential
 11 victims of appraisal bias as part of pre- and post-purchase homeowner-
 12 ship counseling; and
 13 (c) execute a coordinated public awareness campaign to inform consum-
 14 ers of their rights, as well as to disseminate the new resources that
 15 will be available to them.
 16 § 2. Task force membership. 1. The real estate appraiser task force
 17 shall consist of a total of ten members and shall include: one person
 18 appointed by the attorney general; one person appointed by the depart-
 19 ment of state; two persons appointed by the governor; two persons
 20 appointed by the majority leader of the senate; two persons appointed by
 21 the speaker of the assembly; one person appointed by the minority leader
 22 of the senate; and one person appointed by the minority leader of the
 23 assembly. The task force shall appoint a chairperson from amongst its
 24 members.
 25 2. Appointees to the real estate appraiser ta