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B-279866.3 1 (2000-02-28)

handle is hein.gao/gaocrptakxg0001 and id is 1 raw text is: -e GeAtOa E Comptroller General of the United States United States General Accounting Office Washington, DC 20548 Decision Matter of: Appraisal Subcommittee of the Federal Financial Institutions Examination Council - State Agency Fee Collection Practice for Appraisers under Title XI of FIRREA File: B-279866.3 Date: February 28, 2000 DIGEST The Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council maintains a registry of appraisers eligible to perform appraisals for federally related transactions. Section 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), 12 U.S.C. § 3338, requires state appraiser certifying and licensing agencies to collect an annual registry fee from each appraiser that wants to be listed on the federal registry. Section 1109 also requires the state agencies to transmit registry fees to the ASC on an annual basis. Id. The ASC did not apply the law unreasonably or otherwise abuse its discretion when it concluded that a state's policy for assessing fees for an appraiser's first period of coverage is not appropriate if the initial registry fee covers more than a 12-month period. DECISION Pursuant to section 1109 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the Appraisal Subcommittee (ASC) of the Federal Financial Institutions Examination Council maintains a registry of appraisers qualified and eligible to perform appraisals in federally related transactions. 12 U.S.C. § 3338(b)(1). To be eligible, the appraiser must pay an annual registry fee to a state appraiser certifying and licensing agency, which must transmit collected fees to ASC on an annual basis. 12 U.S.C. § 3338(a)(2). The State of Georgia has a licensing and certification program that results in an appraiser's initial licensing period being as short as one month or as long as 23 months depending on the applicant's month of birth and the month the licensing period begins. Georgia collects from the appraiser and transmits to ASC an annual registry fee covering the initial licensing period regardless of its duration. ASC asks whether Georgia's fee collection practice is consistent with section 1109 of FIRREA, which requires that state agencies collect and transmit registry fees to ASC

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