01/21/2005 03:15 PM House LABOR & COMMERCE

HB  47-EXTEND BOARD OF REAL ESTATE APPRAISERS                                                                                 
                                                                                                                                
                                                                                                                              
3:32:42 PM                                                                                                                    
                                                                                                                                
CHAIR ANDERSON  announced that the  next order of  business would                                                               
be HOUSE BILL  NO. 47, "An Act extending the  termination date of                                                               
the Board of Certified Real Estate Appraisers."                                                                                 
                                                                                                                                
LALANYA SNYDER,  Staff for  Representative Ralph  Samuels, Alaska                                                               
State  Legislature, announced  that  HB  47 is  the  result of  a                                                               
legislative  audit  and  that  the  boards  function  is  to  set                                                               
standards  for   the  real  estate  industry,   and  oversee  the                                                               
examinations  by  which  appraisers   are  certified,  and  adopt                                                               
regulations  to ensure  that state  and  federal regulations  are                                                               
satisfied. She  concluded by  stating that  the bill  extends the                                                               
board until June 30, 2010.                                                                                                      
                                                                                                                                
3:33:52 PM                                                                                                                    
                                                                                                                                
PAT  DAVIDSON, Legislative  Auditor, Legislative  Audit Division,                                                               
announced that  the division conducted  an audit of the  Board Of                                                               
Real Estate Appraisers and recommend an extension.                                                                              
                                                                                                                                
MS. DAVIDSON continued by saying  that the use of state certified                                                               
real  estate  appraisers will  be  a  continuing requirement  for                                                               
Alaska  financial institutions  to  qualify  for federal  deposit                                                               
insurance and  participate in  the selling  of mortgage  loans to                                                               
federal government  sponsor entities like Sallie  Mae and Freddie                                                               
Mac. As a result they believe that the board should be extended.                                                                
                                                                                                                                
CHAIR ANDERSON closed public testimony on HB 47.                                                                                
                                                                                                                                
REPRESENTATIVE KOTT moved  to report HB 47 out  of committee with                                                               
individual  recommendations and  the  accompanying fiscal  notes.                                                               
There  being no  objection, HB  47  was reported  from the  House                                                               
Labor and Commerce Standing Committee.