South Carolina General Assembly
115th Session, 2003-2004

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Bill 3386

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(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

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COMMITTEE REPORT

February 12, 2003

H. 3386

Introduced by Rep. Huggins

S. Printed 2/12/03--H.    [SEC 2/13/03 2:38 PM]

Read the first time January 22, 2003.

            

THE COMMITTEE ON

LABOR, COMMERCE AND INDUSTRY

To whom was referred a Bill (H. 3386) to amend Section 40-60-240, Code of Laws of South Carolina, 1976, relating to uniform standards of professional appraisal practice, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass:

HARRY F. CATO for Committee.

            

STATEMENT OF ESTIMATED FISCAL IMPACT

ESTIMATED FISCAL IMPACT ON GENERAL FUND EXPENDITURES:

$0 (No additional expenditures or savings are expected)

ESTIMATED FISCAL IMPACT ON FEDERAL & OTHER FUND EXPENDITURES IS:

$0 (No additional expenditures or savings are expected)

EXPLANATION OF IMPACT:

The Department of Labor, Licensing and Regulation has indicated this bill would not have any impact on the department, the General Fund of the State, or on federal and/or other funds.

The bill relates to uniform standards of professional appraisal practice.

Approved By:

Don Addy

Office of State Budget

A BILL

TO AMEND SECTION 40-60-240, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE, SO AS TO PRESCRIBE PROFESSIONAL CONDUCT OF APPRAISERS IN CONFORMANCE WITH THE UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE, (USPAP) AS PROMULGATED BY THE APPRAISAL STANDARDS BOARD OF THE APPRAISAL FOUNDATION.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 40-60-240 of the 1976 Code, as added by Act 335 of 2000, is amended to read:

"Section 40-60-240.    The board shall adopt the standards, and amendments to these standards, of professional appraisal practice, as promulgated by the Appraisal Standards Board of the Appraisal Foundation. All appraiser Appraiser apprentices and state licensed and certified appraisers shall conform their professional conduct to these standards of professional appraisal practice the Uniform Standards of Professional Appraisal Practice (USPAP) and its amendments, as promulgated by the Appraisal Standards Board of the Appraisal Foundation."

SECTION 2. This act takes effect upon approval by the Governor.

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