On Sep. 9, 2024, NJ LEG reported governor approved, Ch. 63, effective Mar. 8, 2025.
The new law takes a critical step forward in combating home appraisal discrimination.
Explicitly prohibits discriminatory practices in real estate appraisals and requires real estate appraisers to complete a fair housing and appraisal bias education course.
Governor Way stated bill will ensure that personal biases don't influence appraisers.
On Jun. 28, NJ LEG passed bill on actions re real estate appraisals.
NJ LEG passed AB 2280 (S 1311) to codify prohibition of discriminatory practices in real estate appraisals and require real estate appraisers to complete anti-bias training.
Bill Provisions
No license/certification/registration holder in NJ LEG 45:14F-1 et seq. and NJ LEG 45:14F-27 et al. will use race, color, religion, disability, past owners, etc. in appraisal.
Holder of a license or certification will also be required to complete fair housing and appraisal bias education course offered by the Appraisal Qualifications Board.
Legislative History
On Jan. 9, 2024, bill introduced in Assembly; on Mar. 18, 2024, bill passed Assembly.
On Apr. 11, 2024, bill delivered to Senate; on May 20, 2024, Senate bill substituted.
On May 20, 2024, bill passed Senate; on Jun. 28, 2024, substitute passed Assembly.
Effectiveness
If approved, Act will take effect on the 180th day following enactment of the bill.
Sep. 2024 NJ LEG Governor Approval
On Sep. 9, 2024, NJ LEG reported governor approved, Ch. 63, effective Mar. 8, 2025.
The new law takes a critical step forward in combating home appraisal discrimination.
Explicitly prohibits discriminatory practices in real estate appraisals and requires real estate appraisers to complete a fair housing and appraisal bias education course.
Governor Way stated bill will ensure that personal biases don't influence appraisers.
