H.R. 5520

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5520 Introduced in House (IH)]

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119th CONGRESS
1st Session
H. R. 5520

To amend the Financial Institutions Reform, Recovery, and Enforcement 
Act of 1989 to establish a Portal for Appraiser Credentialing and AMC 
Registration Information, and for other purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

September 19, 2025

Mr. Loudermilk (for himself, Mr. Meuser, Mr. Fitzgerald, Ms. Lee of 
Nevada, Mr. Neguse, Ms. Pettersen, and Mr. Kustoff) introduced the 
following bill; which was referred to the Committee on Financial 
Services

_______________________________________________________________________

A BILL

To amend the Financial Institutions Reform, Recovery, and Enforcement 
Act of 1989 to establish a Portal for Appraiser Credentialing and AMC 
Registration Information, and for other purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Portal for Appraisal Licensing Act 
of 2025''.

SEC. 2. PORTAL FOR APPRAISER CREDENTIALING AND AMC REGISTRATION 
INFORMATION.

Section 1103 of the Financial Institutions Reform, Recovery, and 
Enforcement Act of 1989 (12 U.S.C. 3332) is amended--
(1) in subsection (a)--
(A) in paragraph (3), by striking ``and'' at the 
end;
(B) in paragraph (4), by striking the period on the 
end and inserting a semicolon;
(C) in paragraph (5)--
(i) by striking ``. The report'' and 
inserting ``, and which''; and
(ii) by striking the period on the end and 
inserting a semicolon;
(D) in paragraph (6), by striking the period on the 
end and inserting ``; and''; and
(E) by adding at the end the following:
``(7) establish and maintain the Portal for Appraiser 
Credentialing and AMC Registration Information described under 
subsection (c).''; and
(2) by adding at the end the following:
``(c) Portal for Appraiser Credentialing and AMC Registration 
Information.--
``(1) In general.--The Appraisal Subcommittee shall 
establish and maintain a cloud-based system to be called the 
`Portal for Appraiser Credentialing and AMC Registration 
Information' (the `Portal'), which--
``(A) shall provide appraisers and appraisal 
management companies a central depository for license, 
certification, and registration applications and 
renewals;
``(B) shall provide connectivity with State 
appraiser certifying and licensing agencies for their 
access to all application and renewal information, 
including completed qualifying and continuing 
education, experience logs, examination results, 
background check information, where applicable, and any 
other information the Appraisal Subcommittee determines 
appropriate (after consideration of any advice from the 
advisory committee established under paragraph (6));
``(C) shall make available payment of all license, 
certification, and registration fees and delivery of 
letters of good standing to State appraiser certifying 
and licensing agencies; and
``(D) may utilize an existing platform, if 
available.
``(2) Background checks.--
``(A) Access to records.--Notwithstanding any other 
provision of law, in providing appraisal functions, the 
Attorney General shall provide access to all criminal 
history information to the appropriate State officials 
responsible for regulating State-licensed and State-
certified appraisers or appraisal management companies 
to the extent criminal history background checks are 
required under the laws of the State for the licensing 
or certification of such appraisers and registering 
appraisal management companies.
``(B) Agent.--For the purposes of this paragraph 
and in order to reduce the points of contact which the 
Federal Bureau of Investigation may have to maintain 
for purposes of subparagraph (A), the Appraisal 
Subcommittee may be used as a channeling agent of the 
States for requesting and distributing information 
between the Department of Justice and the appropriate 
State agencies.
``(C) Other persons requiring a background check.--
To the extent FBI criminal history background checks 
are required under the laws of a State, appraisers and 
any other person that may require such a background 
check shall submit fingerprints to the Portal and 
authorize the Appraisal Subcommittee to process a 
criminal background check with the Federal Bureau of 
Investigation.
``(D) Treatment of background checks.--Background 
checks completed under this paragraph shall satisfy any 
third-party oversight requirements imposed by Federal 
financial institutions regulatory agencies.
``(3) Additional content information.--
``(A) Education courses.--For purposes of the 
education information maintained by the Portal--
``(i) a State appraiser certifying and 
licensing agency may notify the Portal of which 
particular courses have been approved by the 
agency; and
``(ii) both education providers and State 
appraiser certifying and licensing agencies of 
States may submit to the Portal lists of 
individuals who have completed such courses.
``(B) Unique identifiers.--The Appraisal 
Subcommittee shall use a unique identifier to identify 
each individual who submits an application through the 
Portal or otherwise makes use of the Portal. The 
Appraisal Subcommittee may also use a unique identifier 
to identify each appraisal management company that 
submits an application through the Portal or otherwise 
makes use of the Portal.
``(4) No effect on states' rights.--States shall retain the 
ability to act independently upon license, certification, and 
registration applications and renewals for appraisers and 
appraisal management companies.
``(5) Treatment of fees.--State credentialing fees and any 
State-specific information shall continue to be provided to 
States by appraisers and appraisal management companies, but 
transmitted through the Portal via a streamlined process and 
application.
``(6) Advisory committee.--
``(A) In general.--The Appraisal Subcommittee shall 
establish an advisory committee to advise the Appraisal 
Subcommittee on the establishment of the Portal.
``(B) Membership.--The advisory committee shall 
consist of representatives of industry associations, 
appraisers, lenders, appraisal management companies, 
and State appraiser certifying and licensing agencies, 
to be determined by the Appraisal Subcommittee.
``(7) Funding.--
``(A) User fees.--For the sole purpose of paying 
for the cost of establishing and maintaining the Portal 
and carrying out the background checks required under 
paragraph (2)(A), the Appraisal Subcommittee may charge 
a reasonable fee to individuals and appraisal 
management companies making use of the Portal. The fee 
shall be revenue neutral to the costs of developing and 
maintaining the Portal.
``(B) State grants.--The Appraisal Subcommittee 
shall make grants available to State appraiser 
certifying and licensing agencies, in accordance with 
policies to be developed by the Appraisal Subcommittee, 
to support the efforts of such agencies to connect 
State systems with the Portal.''.
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