States must keep a trainee roster and report credential actions to the registry
What the document says“``(2) transmit reports on the issuance and renewal of licenses, certifications, credentials, sanctions, and disciplinary actions, including license, credential, and certification revocations, on a timely basis to the national registry of the Appraisal Subcommittee;''.”
The section amends section 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, changing the section heading to cover credentialed trainees, requiring a State with a supervisory or trainee program to keep a roster of individuals who hold a State trainee credential, and replacing paragraph (2) with a duty to send reports on the issue and renewal of licenses, certifications, credentials, sanctions, and disciplinary actions, including revocations, to the national registry in good time.
What the document actually says“``(2) transmit reports on the issuance and renewal of licenses, certifications, credentials, sanctions, and disciplinary actions, including license, credential, and certification revocations, on a timely basis to the national registry of the Appraisal Subcommittee;''.”
A state must send in reports on the papers it grants. That covers licenses and any punishment given. Taking a paper away counts too. The reports go to the national list at once.
The register is kept by a federal panel. It shows who may appraise and who may not. Nothing here forces a state to run a trainee program.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.