2023 -- S 0819 | |
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LC001085 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2023 | |
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A N A C T | |
RELATING TO BUSINESSES AND PROFESSIONS -- REAL ESTATE APPRAISER | |
CERTIFICATION ACT | |
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Introduced By: Senator Leonidas P. Raptakis | |
Date Introduced: March 23, 2023 | |
Referred To: Senate Judiciary | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 5-20.7 of the General Laws entitled "Real Estate Appraiser |
2 | Certification Act" is hereby amended by adding thereto the following section: |
3 | 5-20.7-27. Solar panels. |
4 | Solar panels shall be included in the appraisal of any real estate for the purpose of financing |
5 | to purchase a property or refinancing a loan on the property, except as prohibited pursuant to ยง 5- |
6 | 20.7-25. The appraisal shall include the past twenty-four (24) months of invoices for net metering |
7 | pursuant to chapter 26.4 of title 39 in order that the average income or balance due generated over |
8 | that time can be utilized for the purchase of or refinancing a loan on the property. |
9 | SECTION 2. This act shall take effect upon passage. |
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LC001085 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO BUSINESSES AND PROFESSIONS -- REAL ESTATE APPRAISER | |
CERTIFICATION ACT | |
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1 | This act would require real estate appraisers to include solar panels in the appraisal of any |
2 | real estate along with the past twenty-four (24) months of invoicing for net metering to determine |
3 | any average income or balance due, except as prohibited under federal law or regulation. |
4 | This act would take effect upon passage. |
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LC001085 | |
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