Read the full stored bill text
Wisconsin Legislature: SB543: Bill Text
Skip navigation
Home
Documents
Senate
Assembly
Committees
Service Agencies
Docs
Options
Help
2025 Biennium
Statutes
Admin. Rules
Indices
Miscellaneous
Archives
Home
Bill, Rule, and Appointment Histories
Senators
Representatives
Committees
Text of Introduced Proposals
Amendment Text
Acts
Veto Messages
Enrolled Bills
Votes
Assembly and Senate Floor Calendars
Schedule of Committee Activities
Assembly and Senate Journals
Committee Records (ROCPs)
Legislative Rules
All Session-Related Documents
Subject Index to Acts
Subject Index to Legislation
Subject Index to Journals
Author Index to Legislation
Subject Index to Clearinghouse Rules
Miscellaneous Budget Documents
Executive Orders
Rulings of the Chair
Wisconsin Supreme Court Rules
Opinions of the Attorney General
Town Law Forms
Law
Districts
Session
Drafting Files
Feeds
Preferences
Show tree
Hide tree
Feedback
Help
Home
Senate Home
Senators
Committees
Session
Chief Clerk
Sergeant at Arms
Civics Education
Human Resources
Assembly Home
Representatives
Committees
Session
Chief Clerk
Sergeant at Arms
Human Resources
Schedule
Joint
Senate
Assembly
Study
Legislative Audit Bureau
Legislative Council
Legislative Fiscal Bureau
Legislative Human Resources Office
Legislative Reference Bureau
Legislative Technology Services Bureau
Menu
»
2025
»
Related Documents
»
Proposal Text
»
SB543: Bill Text
Up
Up
2025 - 2026 LEGISLATURE
LRB-2733/1
MED:cjs
2025 SENATE BILL 543
October 17, 2025 - Introduced by Senators
Wall
,
Dassler-Alfheim
,
L. Johnson
,
Roys
and
Spreitzer
, cosponsored by Representatives
Kirsch
,
Spaude
,
DeSmidt
,
Joers
,
Miresse
,
Ortiz-Velez
,
Palmeri
,
Rivera-Wagner
,
Roe
,
Sinicki
,
Stroud
and
Stubbs
. Referred to Committee on Licensing, Regulatory Reform, State and Federal Affairs.
SB543,1,5
1
An Act
to repeal
458.08 (2) (a) and 458.08 (5);
to amend
458.01 (13), 458.06
2
(4m) (b), 458.08 (4) (b), 458.09 (2) (intro.), 458.10 (1), 458.12, 458.16 (1), 458.34
3
(1) (b) and 458.43 (1) (intro.);
to repeal and recreate
458.06 (4m) (title) and
4
458.08 (4) (title) of the statutes;
relating to:
regulation and credentialing of
5
appraisers and appraisal management companies.
Analysis by the Legislative Reference Bureau
Current law provides for the certification and licensure of various levels of real estate appraisers and the licensure of appraisal management companies (AMCs). This bill makes various changes regarding the regulation and credentialing of appraisers and AMCs, including all of the following:
1. Repealing a requirement that a real estate appraiser licensure applicant be at least 18 years old.
2. Increasing the value of a commercial real estate transaction in which a certified residential appraiser may conduct an appraisal. Under current law, a certified residential appraiser may conduct appraisals in commercial real estate transactions valued at up to $250,000. The bill raises this limit to $500,000.
3. Expressly providing that an AMC that is a subsidiary owned and controlled by a financial institution regulated by a federal financial institution regulatory agency is not required to be licensed as an AMC.
4. Repealing language allowing a licensed AMC to remove without notice an independent appraiser from its appraiser panel within the first 60 days after the appraiser is added to a licensed AMC’s appraiser panel.
5. Removing other obsolete language, including a transitional licensure provision that no longer has any effect.
The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:
SB543,1
1
Section
1
.
458.01 (13) of the statutes is amended to read:
SB543,2,4
2
458.01
(13)
“Residential appraiser” means an individual who conducts
3
appraisals of residential real estate or of commercial real estate having a
4
transaction value of not more than
$250,000
$500,000
.
SB543,2
5
Section
2
.
458.06 (4m) (title) of the statutes is repealed and recreated to
6
read:
SB543,2,7
7
458.06
(4m)
(title)
Certification through reciprocity.
SB543,3
8
Section
3
.
458.06 (4m) (b) of the statutes is amended to read:
SB543,2,12
9
458.06
(4m)
(b) The applicant meets the requirements established in a
10
reciprocal
reciprocity
agreement under s. 458.12 between the department and the
11
regulatory authority in the state or territory where the applicant holds the
12
certificate.
SB543,4
13
Section
4
.
458.08 (2) (a) of the statutes is repealed.
SB543,5
14
Section
5
.
458.08 (4) (title) of the statutes is repealed and recreated to read:
SB543,2,15
15
458.08
(4)
(title)
Licensure through reciprocity.
SB543,6
16
Section
6
.
458.08 (4) (b) of the statutes is amended to read:
SB543,3,2
17
458.08
(4)
(b) The applicant meets the requirements established in a
18
reciprocal
reciprocity
agreement under s. 458.12 between the department and the
1
regulatory authority in the state or territory where the applicant holds the
2
certificate.
SB543,7
3
Section
7
.
458.08 (5) of the statutes is repealed.
SB543,8
4
Section
8
.
458.09 (2) (intro.) of the statutes is amended to read:
SB543,3,7
5
458.09
(2)
(intro.) If an applicant for a certificate under s. 458.06 (3) or (4) or
6
458.08 (3)
or (5) (a)
or for renewal of that certificate under s. 458.11 is an assessor,
7
all of the following apply:
SB543,9
8
Section
9
.
458.10 (1) of the statutes is amended to read:
SB543,3,13
9
458.10
(1)
The department shall conduct examinations for general appraiser
10
certification, residential appraiser certification and appraiser licensure
at least
11
semiannually
at times and places determined by the department.
The department
12
shall provide public notice of each examination at least 60 days before the date of
13
the examination.
SB543,10
14
Section
10
.
458.12 of the statutes is amended to read:
SB543,3,19
15
458.12
Reciprocal
Reciprocity
agreements.
The department may enter
16
into
reciprocal
reciprocity
agreements with officials of other states or territories of
17
the United States for certifying and licensing appraisers and issue certificates to
18
applicants who hold certificates in those states or territories according to the terms
19
of the
reciprocal
reciprocity
agreements.
SB543,11
20
Section
11
.
458.16 (1) of the statutes is amended to read:
SB543,4,5
21
458.16
(1)
Each certified appraiser shall place his or her title, as described in
22
s. 458.055, and certificate number on each appraisal report and each written
23
appraisal agreement used by the certified appraiser in conducting appraisal
24
activities. The title and certificate number shall be placed in a manner specified by
1
the department in the rules promulgated under s. 458.03 (1) (f). The title
2
“Wisconsin certified residential appraiser” or “WI certified residential appraiser”
3
may be used only on an appraisal report or written appraisal agreement pertaining
4
to commercial real estate having a transaction value of not more than
$250,000
5
$500,000
or to residential real estate.
SB543,12
6
Section
12
.
458.34 (1) (b) of the statutes is amended to read:
SB543,4,10
7
458.34
(1)
(b) A federally regulated appraisal management company
,
8
including an appraisal management company that is a subsidiary owned and
9
controlled by a financial institution regulated by a federal financial institution
10
regulatory agency
.
SB543,13
11
Section
13
.
458.43 (1) (intro.) of the statutes is amended to read:
SB543,4,16
12
458.43
(1)
(intro.)
Except within the first 60 days after a licensed appraisal
13
management company adds an independent appraiser to the licensed appraisal
14
management company’s appraiser panel, a
A
licensed appraisal management
15
company may not remove an independent appraiser from its appraiser panel unless
16
the licensed appraisal management company does the following:
SB543,4,17
17
(end)
Down
Down
/2025/related/proposals/sb543
true
proposaltext
/2025/related/proposals/sb543
proposaltext/2025/REG/SB543
proposaltext/2025/REG/SB543
section
true
Menu
»
2025
»
Related Documents
»
Proposal Text
»
SB543: Bill Text
×
Details for
PDF view
Link
(Permanent link)
Bookmark this location
View toggle
Go to top of document
Search in this chapter
Search in this section
Search in this agency
Search in this chapter group
Search in this chapter
Search in this section
Cross references for section
Acts affecting this section
References to this
1970 Statutes Annotations
Appellate Court Citations
Administrative Code Index
Reference lines
Clear highlighting