[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]

DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
BOARD OF REAL ESTATE APPRAISERS
4CCR 725-2

Chapter 11 Standards of Professional Appraisal Practice
11.1 

Pursuant to and in compliance with Title 12, Article 61 and Title 24, Article 4, C.R.S. as amended, notice of proposed rulemaking is hereby given, including notice to the Attorney General of the State of Colorado and to all persons who have requested to be advised of the intention of the Colorado Board of Real Estate Appraisers (the “Board”) to promulgate rules, or to amend, repeal or repeal and re-enact the present rules of the Board.

Section 1.	Statement of Basis and Authority
Section 2. 	Scope and Purpose
Section 3.	Applicability
Section 4. 	Chapter 11 Standards of Professional Appraisal Practice
11.1 

Section 1. 	Statement of Basis and Authority

The statutory basis for the rules titled Rules of the Board of Real Estate Appraisers is Chapter 7 of Title 12, Article 61, Colorado Revised Statutes, as amended.  The General Assembly passed Senate Bill 90-34, effective July 1, 1990, which created the Board and mandated the licensing of real estate appraisers under the statutory terms and conditions.  The General Assembly has variously amended the statutes by passing House Bill 92-1177, House Bill 96-1080, Senate Bill 97-90, House Bill 97-1056, House Bill 00-1137 and House Bill 02-1130.

Section 2.	Scope and Purpose

The purpose of these rules is to effectuate the legislative directive to promulgate necessary and appropriate rules in conformity with the statute and the provisions of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989.

The specific purpose of these rules is to amend or repeal existing rules with respect to the implementation of the 2010-2011 edition of the Uniform Standards of Professional Appraisal Practice. 
Section 3.	Applicability

This permanent rule governs real estate appraisers who are subject to the requirements of Part 7 of Title 12, Article 61 of the Colorado Revised Statutes.

[THIS PAGE NOT FOR PUBLICATION IN THE CODE OF COLORADO REGULATIONS]

Proposed New, Amended and Repealed Rules

[Deleted material shown struck through, new material shown ALL CAPS. Rules, or portions of rules, which are unaffected are not reproduced.  Readers are advised to obtain a copy of the complete rules of the Board at www.dora.state.co.us/real-estate/appraisr]

Section 4. 	Chapter 11 Standards of Professional Appraisal Practice
11.1 

CHAPTER 11:	STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE

11.1	Pursuant to Section 12-61-710(1)(g), C.R.S. (as amended), the Board adopts, and incorporates by reference in compliance with Section 24-4-103(12.5), C.R.S., as the generally accepted standards of professional appraisal practice the definitions, preamble, rules, standards and standards rules and statements of the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Standards Board of the Appraisal Foundation on January 30, 1989 and amended through April 3, 2009 and known as the 2010-2011 edition.  Amendments to the Uniform Standards of Professional Appraisal Practice subsequent to April 3, 2009 are not included in this Rule.  A certified copy of the Uniform Standards of Professional Appraisal Practice is on file and available for public inspection with the Program Manager at the offices of the Board of Real Estate Appraisers at 1560 Broadway, Suite 925, Denver, Colorado.  Copies of the Uniform Standards of Professional Appraisal Practice adopted under this rule may be examined at any state publications depository library.  The 2010-2011 edition of the Uniform Standards of Professional Appraisal Practice may be examined at the Internet website of The Appraisal Foundation at www.appraisalfoundation.org, and copies may be ordered through that mechanism.  The Appraisal Foundation may also be contacted at 1155 15th Street, NW, Suite 1111, Washington, DC 20005, or by telephone at (202) 347-7722 or by telefax at (202) 347-7727.  The 2008 edition of the Uniform Standards of Professional Appraisal Practice, incorporating the amendments made through June 8, 2007 shall remain in effect through December 31, 2009.  Beginning January 1, 2010, the 2010-2011 edition of the Uniform Standards of Professional Appraisal Practice shall be in effect.