Appraisal Industry Improvement Act
Latest Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Official Summary
Official summary has not been imported yet.
GovScope Watchdog™
AI Government Intelligence™The Appraisal Industry Improvement Act (S.3902) was introduced in the 118th Congress and referred to the Senate Committee on Banking, Housing, and Urban Affairs. The bill pertains to the finance and financial sector, specifically targeting improvements in the appraisal industry. However, no official summary or full text is publicly available, and the bill ultimately failed or expired without further legislative action.
S.3902 aimed to address issues in the appraisal industry but did not advance beyond committee referral and expired without enactment.
- The bill was introduced in the Senate during the 118th Congress.
- It was referred to the Committee on Banking, Housing, and Urban Affairs after being read twice.
- The bill did not progress further and is listed as failed or expired.
['Appraisal industry professionals and organizations', 'Financial institutions relying on appraisals', 'Regulatory bodies overseeing appraisal standards']
['Lack of publicly available full text limits understanding of specific provisions and implementation requirements.', 'No information on funding mechanisms or enforcement language is available.', 'Without passage, no changes or improvements to appraisal industry regulations were enacted.']
The bill was introduced and referred to the relevant Senate committee but did not advance further during the 118th Congress. The absence of a public summary or full text and its failed or expired status indicate limited legislative momentum or prioritization within the finance and financial sector policy area.
Hidden impact flags detected: 2
GovScope reviewed 2 policy-risk categories. Hover for a quick definition. Click detected flags for bill-specific details.
['Potential modernization or reform of appraisal industry practices if the bill had passed.', "Possible impacts on financial institutions' appraisal processes and regulatory compliance.", 'Changes in oversight responsibilities for federal or state agencies involved in appraisal regulation.']
The absence of an official summary and full bill text limits transparency and public understanding of the bill's intent and provisions. This lack of information poses challenges for oversight and informed debate. Additionally, the bill's failure to advance beyond committee referral suggests limited legislative engagement or priority during the 118th Congress.
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