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EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*sb0477*
SENATE BILL 477
D3, C2, N1 6lr1572
By: Senator McKay
Introduced and read first time: February 2, 2026
Assigned to: Judicial Proceedings
Committee Report: Favorable with amendments
Senate action: Adopted
Read second time: March 2, 2026
CHAPTER ______
AN ACT concerning 1
Civil Actions – Real Estate Appraisals – Record Retention and Statute of 2
Limitations 3
FOR the purpose of altering the period that a licensed real estate appraiser must retain 4
certain records; establishing a statute of limitations for certain civil actions against 5
a person for certain real estate appraisal –related actions; extending the statute of 6
limitations for certain civil ac tions for an alleged discriminatory housing practice 7
related to the appraisal of residential real property; and generally relating to civil 8
actions, real estate appraisals, and the applicable statute of limitations. 9
BY repealing and reenacting, with amendments, 10
Article – Business Occupations and Professions 11
Section 16–401 12
Annotated Code of Maryland 13
(2018 Replacement Volume and 2025 Supplement) 14
BY adding to 15
Article – Courts and Judicial Proceedings 16
Section 5–122 17
Annotated Code of Maryland 18
(2020 Replacement Volume and 2025 Supplement) 19
BY repealing and reenacting, without amendments, 20
Article – State Government 21
Section 20–1035(a) 22
2 SENATE BILL 477
Annotated Code of Maryland 1
(2021 Replacement Volume and 2025 Supplement) 2
BY repealing and reenacting, with amendments, 3
Article – State Government 4
Section 20–1035(b) 5
Annotated Code of Maryland 6
(2021 Replacement Volume and 2025 Supplement) 7
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 8
That the Laws of Maryland read as follows: 9
Article – Business Occupations and Professions 10
16–401. 11
(a) Subject to the provisions of subsection (b) of this section, a licensed real estate 12
appraiser shall keep, for [5] 12 years from the date of delivery to the client, the original or 13
a copy of: 14
(1) each contract the licensee enters into for the provision of real estate 15
appraisal services; 16
(2) each appraisal report the licensee prepares or signs; and 17
(3) all supporting data that the licensee assembles or formulates to prepare 18
an appraisal report. 19
(b) If, within the [5–year] 12–YEAR period for the retention of records, a licensed 20
real estate appraiser is given notice that an appraisal or appraisal report is involved in 21
litigation, a new [5–year] 12–YEAR period shall start on the date of the final disposition of 22
the litigation. 23
(c) On request, a licensed real estate appraiser shall make any record required to 24
be kept under this section available to the Commission to inspect or copy. 25
Article – Courts and Judicial Proceedings 26
5–122. 27
(A) (1) IN THIS SECTION THE FOLLOWIN G WORDS HAVE THE MEA NINGS 28
INDICATED. 29
(2) (I) “APPRAISAL” MEANS AN ANALYSIS, A CONCLUSION, OR AN 30
OPINION ABOUT THE NA TURE, QUALITY, UTILITY, OR VALUE OF INTEREST S IN OR 31
ASPECTS OF IDENTIFIED REAL ESTATE. 32
SENATE BILL 477 3
(II) “APPRAISAL” INCLUDES: 1
1. A VALUATION APPRAISAL; 2
2. AN ANALYSIS ASSIGNMENT; AND 3
3. A REVIEW ASSIGNMENT. 4
(III) “APPRAISAL” DOES NOT INCLUDE AN OPINION PROVIDED 5
TO A POTENTIAL SELLER OR THIRD PARTY BY A PERSON LICENSED UNDER TITLE 17 6
OF THE BUSINESS OCCUPATIONS AND PROFESSIONS ARTICLE ABOUT THE 7
RECOMMENDED LISTING PRICE OR RECOMMENDED PURCHASE PRICE OF RE AL 8
ESTATE, PROVIDED THAT THE OPINION IS NOT REFERRED TO AS AN APPRAISAL. 9
(3) “FEDERALLY RELATED TRA NSACTION” HAS THE MEANING 10
STATED IN THE FEDERA L FINANCIAL INSTITUTIONS REFORM, RECOVERY, AND 11
ENFORCEMENT ACT OF 1989. 12
(B) (1) THIS EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS 13
SUBSECTION, THIS SECTION APPLIES TO A CIVIL ACTION FOR DAMAGES AGAINST A 14
PERSON FOR AN ALLEGE D ACT OR OMISSION RE LATED TO THE PERFORM ANCE, 15
REVIEW, SUPERVISION, OR MANAGEMENT OF AN APPRAISAL, REGARDLESS OF 16
WHETHER THE APPRAISA L IS IN CONNECTION W ITH A FEDERALLY RELA TED 17
TRANSACTION. 18
(2) THIS SECTION DOES NOT APPLY: 19
(I) TO A CIVIL ACTION FOR AN ALLEGED DISCRIMIN ATORY 20
HOUSING PRACTICE RELATED TO THE APPRAISAL OF RESIDENTIAL REAL PROPERTY 21
UNDER § 20–1035 OF THE STATE GOVERNMENT ARTICLE; 22
(II) TO ADMINISTRATIVE ACT IONS OF THE COMMISSION OF 23
REAL ESTATE APPRAISERS, APPRAISAL MANAGEMENT COMPANIES, AND HOME 24
INSPECTORS; OR 25
(II) (III) IF KNOWLEDGE OF THE C IVIL ACTION WAS 26
CONCEALED BY FRAUD. 27
(C) A CIVIL ACTION SUBJECT TO THIS SECTION SHALL BE FILED WITHIN THE 28
EARLIER OF: 29
(1) 2 YEARS AFTER THE DATE THAT THE COMPLAINANT KNEW OR 30
REASONABLY SHOULD HAVE KNOWN OF THE ACT OR OMISSION; OR 31
4 SENATE BILL 477
(2) 4 YEARS AFTER THE DATE WHEN THE PERFORMANCE , REVIEW, 1
SUPERVISION, OR MANAGEMENT OF AN APPRAISAL, AS APPLICABLE, WAS PROVIDED 2
OR SHOULD HAVE BEEN PROVIDED. 3
Article – State Government 4
20–1035. 5
(a) In accordance with this section, an aggrieved person may commence a civil 6
action in an appropriate State court to obtain appropriate relief for an alleged 7
discriminatory housing practice or the breach of a conciliation agreement entered into 8
under this part. 9
(b) (1) [The] EXCEPT AS PROVIDED IN PARAGRAPH (4) OF THIS 10
SUBSECTION, THE action shall be filed within 2 years after the later of the occurrence or 11
termination of the alleged discriminatory housing practice or the breach of the conciliation 12
agreement. 13
(2) (i) Except as provided in subparagraph (ii) of this paragraph, the 14
computation of the 2–year period does not include any time during which an administrative 15
proceeding under this par t was pending for a complaint or charge based on the alleged 16
discriminatory housing practice. 17
(ii) Subparagraph (i) of this paragraph does not apply to an action 18
arising from a breach of a conciliation agreement. 19
(3) (I) THIS PARAGRAPH DOES N OT APPLY TO A CIVIL ACT ION 20
DESCRIBED UNDER PARAGRAPH (4) OF THIS SUBSECTION. 21
(II) Except as provided in subsection (c) of this section, an aggrieved 22
person may commence a civil action under this section: 23
[(i)] 1. not sooner than 130 days after a compl aint has been filed 24
under § 20–1021 of this subtitle; and 25
[(ii)] 2. regardless of the status of any complaint. 26
(4) A CIVIL ACTION FOR AN ALLEGED DISCRIMINATO RY HOUSING 27
PRACTICE RELATED TO THE APPRAISAL OF RESIDENTIAL REAL PROPERTY SHALL BE 28
FILED WITHIN 12 YEARS AFTER THE LATER OF THE OCCURRENCE OR TERMINATION 29
OF THE ALLEGED DISCR IMINATORY HOUSING PR ACTICE OR THE BREACH OF A 30
CONCILIATION AGREEMENT. 31
SENATE BILL 477 5
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be construed to 1
apply only prospectively and may not be applied or interpreted to have any effect on or 2
application to any cause of action accruing before the effective date of this Act. 3
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect 4
October 1, 2026. 5
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
President of the Senate.
________________________________________________________________________________
Speaker of the House of Delegates.