arrow_back Back to App

Streamlining Real Estate Appraisals for Government Transactions

This new law simplifies real estate appraisal rules for transactions under the Secretary of the Interior's jurisdiction. It allows appraisers licensed in one state to work in others, aiming to speed up processes and reduce costs. Citizens may experience faster and more efficient handling of real estate matters involving the government.
Key points
Real estate appraisers only need a license from one state to perform appraisals for federal transactions nationwide.
The Department of the Interior will prioritize local appraisers unless they are unavailable, unqualified, or not cost-competitive.
All policies and procedures for appraisals by the Department of the Interior will be made publicly available online.
The Department will regularly report to Congress on the impact of these changes on appraisal speed and efficiency.
article Official text account_balance Process page
Became Law
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_5443
Sponsor: Rep. Lee, Susie [D-NV-3]
Process start date: 2023-09-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

AACE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5443.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-09-13.

What are the main provisions?

Key points include:

  • Real estate appraisers only need a license from one state to perform appraisals for federal transactions nationwide.
  • The Department of the Interior will prioritize local appraisers unless they are unavailable, unqualified, or not cost-competitive.
  • All policies and procedures for appraisals by the Department of the Interior will be made publicly available online.
  • The Department will regularly report to Congress on the impact of these changes on appraisal speed and efficiency.
What is the specific legal status?

The current status is Became Law.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lee, Susie [D-NV-3].

What is the latest detailed status?

The latest detailed status is: Became Public Law No: 118-230.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Real Estate Courts and Law Public Investments