Appraisal Institute Adopts 2015 Budget

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Appraisal Institute Adopts 2015 Budget

The Appraisal Institute adopted its budget for next year among other actions taken during the Board of Directors’ November 20-21 meeting in Chicago.

The Board voted to amend existing policy to allow eligible Practicing Affiliates, upon application for admission to the Candidate for Designation program, to receive a credit for one previously-taken designation education course under certain conditions. Those individuals also would be granted a monetary credit applied toward Candidate fees in some situations. Additionally, the Board voted to maintain the 2015 chapter funding of Candidates for Designation and Practicing Affiliates at 2014 levels.

The Board also approved the 45-Day Notice shared with Appraisal Institute professionals October 6, which included proposed amendments to Regulation No. 2 regarding requirements for the SRA designation. The 45-Day Notice also included further amendments to the preamble to the AI Standards of Professional Appraisal Practice and the preamble to the AI Code of Professional Ethics, in addition to various amendments to other documents. The changes to the Code of Professional Ethics and Standards of Professional Appraisal Practice are effective January 1.

The Board also voted to send to 45-Day Notice proposed revisions of SRA designation requirements and proposed amendments to Regulations Nos. 1, 2 and 3 to make certain language in these Regulations consistent. Additionally, the Board voted to send to 45-Day Notice a proposal to eliminate the minimum length of candidacy required for general and review Candidates for Designation who do not already hold an Appraisal Institute designation. The Board also voted to send to 45-Day Notice a proposal to eliminate AI continuing education requirements for Candidates for Designation.

The Appraisal Institute’s Board of Directors is next scheduled to meet February 19-20 in Chicago. [Read more…]