Bill description: This legislation allows the Idaho State Board of Real Estate Appraisers to collect any fees from its licensees required for federally-related transactions.
Analyst’s note: In 2016, the Legislature passed a law that regulated appraisal management companies. As Idaho Freedom Foundation noted at the time and note again, this regulation is part of the Dodd-Frank regulatory framework, and compliance with this particular provision is not required until December 2018. Nonetheless, the Legislature decided to implement this provision and is arguing to add another element to it in 2017, despite questions about the future of the federal law with the Trump administration and a Republican-controlled Congress.
Does it violate the principles of federalism by increasing federal authority, `yielding to federal blandishments, or incorporating changeable federal laws into Idaho statutes or rules? Examples include citing federal code without noting as it is written on a certain date, using state resources to enforce federal law, and refusing to support and uphold the Tenth Amendment. Conversely, does it restore or uphold the principles of federalism?
This amendment to the existing legislation would allow the Board of Real Estate Appraisers to collect from its licensees any necessary fees that are charged per federal regulations and then remit these to their respective federal agency or entity. By putting this into the Idaho Code, legislators would be ensuring that Idaho resources are used for the remittance of fees to the federal government. The legislative Fiscal Note anticipates a $62,500 increase in state spending in order to perform these services. (-1)
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