Making corrective changes to Chapter 112 of the General Laws

This bill makes several changes to Chapter 112 of the Massachusetts General Laws. Key provisions include adding a definition for 'Federal Appraisal Subcommittee', revising rules for ownership and registration of appraisal management companies, removing references to 'managing principal', and outlining requirements for collecting and remitting fees to federal authorities. It also specifies that companies with owners who have had licenses or certifications revoked will not be eligible for registration.

MA H468 is a house bill in the Massachusetts 194th General Court, sponsored by Thomas Stanley (D), currently “Introduced” since February 27, 2025.

We track 6,464 Massachusetts bills this session, 18 of them sponsored by Thomas Stanley.

Supporters may highlight that this bill updates and clarifies existing laws regarding appraisal management companies, ensuring that definitions are current and consistency is maintained in the legal language. It strengthens consumer protection by tightening eligibility criteria for registration of appraisal companies, promoting accountability and integrity in the industry.

Critics might argue that the bill imposes stringent and potentially unnecessary regulations on small appraisal companies, which could increase compliance costs and administrative burdens. The removal of 'managing principal' terminology might create ambiguity in company roles and accountability.