Sec. 38.
(1) Fees for an individual licensed or seeking licensure as a state licensed real estate appraiser, a certified general real estate appraiser, a certified residential real estate appraiser, or a limited real estate appraiser under article 26 of the occupational code, MCL 339.2601 to 339.2637, are as follows:
| (a) | Application processing fees: |
| (i) | Certified general real estate appraiser |
| as follows: | |
| (A) | If paid after |
| September 30, 2019........................ $ 25.00 | |
| (B) | Beginning October 1, 2003 through |
| September 30, 2019........................ 35.00 | |
| (ii) | Certified residential real estate appraiser |
| as follows: | |
| (A) | If paid after |
| September 30, 2019........................ 25.00 | |
| (B) | Beginning October 1, 2003 through |
| September 30, 2019........................ 35.00 | |
| (iii) | State licensed real estate appraiser |
| as follows: | |
| (A) | If paid after |
| September 30, 2019........................ 25.00 | |
| (B) | Beginning October 1, 2003 through |
| September 30, 2019........................ 35.00 | |
| (iv) | Limited real estate appraiser as follows: |
| (A) | If paid after |
| September 30, 2019........................ 25.00 | |
| (B) | Beginning October 1, 2003 through |
| September 30, 2019........................ 35.00 | |
| (b) | Examination fees: |
| (i) | Certified general real estate appraiser.... 100.00 |
| (ii) | Certified residential real estate |
| appraiser.................................. 100.00 | |
| (iii) | State licensed real estate appraiser....... 100.00 |
| (c) | License fee, per year: |
| (i) | Certified general real estate appraiser.... 175.00 |
| (ii) | Certified residential real estate |
| appraiser.................................. 175.00 | |
| (iii) | State licensed real estate appraiser....... 175.00 |
| (iv) | Limited real estate appraiser.............. 125.00 |
| (d) | Temporary permit fee....................... 125.00 |
(2) The license fee includes a fee imposed by the federal government under 12 USC 3338 for certified general real estate appraisers, certified residential real estate appraisers, and state licensed real estate appraisers. The amount of the fee described in this subsection shall not exceed $50.00 per licensee, and the department shall collect and pay the fee to the federal government under section 2637 of the occupational code, MCL 339.2637.
(3) The real estate appraiser education fund is created in the state treasury. All of the following apply to the real estate appraiser education fund:
(a) Ten dollars of each fee received under subsection (1)(c) shall be forwarded to the state treasurer for deposit into the real estate appraiser education fund.
(b) The department shall use the money in the real estate appraiser education fund only for the operation of departmental programs related to the education required of all licensees or applicants for licensure under article 26 of the occupational code, MCL 339.2601 to 339.2637.
(c) The state treasurer shall direct the investment of the fund and shall credit to the fund interest and earnings from fund investments.
(d) Money in the fund at the close of the fiscal year shall remain in the fund and shall not lapse to the general fund.
(e) The department is the administrator of the fund for auditing purposes.
History: Add. 1990, Act 268, Imd. Eff. Oct. 17, 1990 ;-- Am. 1999, Act 171, Imd. Eff. Nov. 10, 1999 ;-- Am. 2003, Act 87, Imd. Eff. July 23, 2003 ;-- Am. 2007, Act 77, Imd. Eff. Sept. 30, 2007 ;-- Am. 2012, Act 308, Imd. Eff. Oct. 1, 2012 ;-- Am. 2015, Act 75, Eff. Oct. 1, 2015
Last modified: October 10, 2016