COUNCIL OF THE DISTRICT OF COLUMBIA

COMMITTEE OF THE WHOLE 

1350 Pennsylvania Avenue, NW

Washington, DC 20004

 

 

TO:                       Nyasha Smith, Secretary to the Council

               

FROM:              Phil Mendelson, Chairman

                                                               

DATE:                October 3, 2019

 

 

 

                This is to request that the following measures be placed on the agenda for the October 8, 2019 Legislative Meeting:

 

• Appraisal Management Company Regulation Congressional Review Emergency Declaration Resolution of 2019
• Appraisal Management Company Regulation Congressional Review Emergency Amendment Act of 2019

 

                Bill 23-382, the “Appraisal Management Company Regulation Emergency Act of 2019” was adopted by Council on July 9, 2019 (D.C. Act 23-110), signed by the Mayor and expires on October 29, 2019. Bill 23-383, the temporary version of the same measure, was adopted on second reading by the Council on September 17, 2019, however, it has not yet been signed by the Mayor or transmitted to Congress for its 30-day review. A congressional review emergency act is necessary to prevent a gap in the law.        

 

                The purpose of the underlying emergency legislation is to enact minimum licensing and regulatory requirements for appraisal management companies pursuant to federal law (12 U.S.C. § 3353) and federal regulations (12 CFR § 34.210 et seq.; 12 CFR 208.50 and 225.190 et seq.; 12 CFR 323.8 et seq.; 12 CFR Part 1222.20 et seq.).