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Update on HB24-1085

HB24-1085 went before the Senate Judiciary Committee on March 18th. The Judiciary Committee consists of 5 members, 3 Democrats and 2 Republicans. After another long hearing, it was clear the three Democrats on the committee were not convinced the policy was needed simply because there were very few examples of appraisers facing frivolous lawsuits outside of the five year timeframe. By the time the final vote was cast, the bill had been lost along party lines, 3-2.

Leaving the hearing the CCA (which includes the RMAA) and their lobbyist were disappointed by the result, specifically with the Democrats that could not understand the value of this protection for appraisal small businesses. It was clear that the opposition, although well funded and powerful, was not the reason for the bills defeat. It is known now that the CCA needed more examples and personal stories of litigation outside of the 5 year time period to better justify the need for the policy. Although, the group made it very clear that the disclosure forms and E&O insurance rates were a large part of the problem, the need for more personal stories was evident.

It has only been a few days since the bill was lost, but the CCA and their lobbyist are working on next steps for the 2025 legislative session and the future success of another bill. This includes outreach to appraisers who have faced litigation and outreach to the over 2,000 appraisers who are not involved in any of the seven member organizations. The need for more widespread involvement can only benefit next years policy. With this year being an election year, this November, and a new crop of legislators, the CCA is better prepared to create a legislator education campaign on this issue and its importance. The CCA is hopeful for success as they approach their second attempt to passing this needed policy.

We appreciate your support during this first attempt and look forward to working together for a successful outcome in the next legislative session.

You can read the full bill summary here: HB24-1085 Summary


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