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H.R. 5443 · 118th Congress

AACE Act

Law · 118-230 · Jan 4, 2025
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Became law without a recorded vote. It passed by voice vote or unanimous consent, which don't record how each member voted.

SLD LeeSponsor
13 cosponsors · 4 D, 9 R
  1. House Introduced Sep 13, 2023
  2. House Passed Jul 8, 2024
  3. Senate Passed Dec 18, 2024
  4. President To the President Dec 27, 2024
  5. President Signed Jan 4, 2025
  6. Law Jan 4, 2025

Accelerating Appraisals and Conservation Efforts Act or AACE Act

What it does: CRS summary · Public Law · Jan 4, 2025

Accelerating Appraisals and Conservation Efforts Act or AACE Act

This act relaxes requirements for the Department of the Interior in appraising and valuing real property for transactions over which Interior has jurisdiction.

Specifically, a private real property appraiser needs only to be licensed or certified in one state to perform appraisal or valuation services for real property over which Interior has jurisdiction. Currently, if a private assessor is used for a real property transaction within Interior's jurisdiction, that assessor must be licensed or certified in the state where that transaction occurs.

When using private appraisers, Interior shall, to the maximum extent practicable, use private appraisers who are certified general real property appraisers licensed in the state where the transaction occurs.

Additionally, Interior may use a private appraiser who is licensed outside the state in which the transaction occurs only if private appraisers licensed in that state are unavailable, not assignment qualified, or not cost competitive. Interior must make the text of all policies related to such appraisals public.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: AACE Act

Also known as: Accelerating Appraisals and Conservation Efforts Act

Latest action (Jan 4, 2025): Became Public Law No: 118-230.

Policy area: Public Lands and Natural Resources · Origin: House · Introduced: Sep 13, 2023

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

  1. House Introduced Sep 13, 2023
  2. House Passed Jul 8, 2024
  3. Senate Passed Dec 18, 2024
  4. President To the President Dec 27, 2024
  5. President Signed Jan 4, 2025
  6. Law Jan 4, 2025

No recorded floor vote found.