Senate Commerce Committee Statement to Senate, No. 3317 — State of New Jersey (December 19, 2022)

Summary

A Senate Commerce Committee statement to the Senate on Senate Bill No. 3317, State of New Jersey, dated December 19, 2022, reporting the bill favorably. The bill prohibits discriminatory practices in property appraisals, barring a real estate appraiser from considering the race, color, religion, sex, sexual orientation, gender identity, age, marital status, disability, familial status or national origin of prospective or present owners or occupants, or of those of nearby properties. It also requires appraisers to complete a fair housing and appraisal bias education course offered by the Appraisal Qualifications Board of the Appraisal Foundation to satisfy continuing education requirements.

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SENATE COMMERCE COMMITTEE

STATEMENT TO

SENATE, No.
3317

STATE
OF NEW JERSEY

DATED: DECEMBER
19, 2022

The
Senate Commerce Committee reports favorably Senate Bill No. 3317.

This
bill prohibits discriminatory practices in property appraisals and requires
real estate appraisers to participate in anti-bias training.

Under
the bill, a real estate appraiser will be prohibited from considering, as part
of the appraisal analysis of a property, the race, color, religion, sex, actual
or perceived sexual orientation, actual or perceived gender identity, age,
actual or perceived marital status, disability, familial status, or national
origin of either the prospective owners or occupants of the property, present
owners or occupants of the property, or the present owners or occupants of the
properties in the vicinity of the property, or on any other basis prohibited by
federal, State, or local law.

Additionally,
the bill requires a real estate appraiser to complete a fair housing and
appraisal bias education course offered by the Appraisal Qualifications Board
of the Appraisal Foundation in order to satisfy the appraiser’s continuing
education requirements.

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