The Appraisal Standards Board (ASB) of The Appraisal Foundation (TAF) voted May 5 to adopt the Fifth Exposure Draft of proposed changes to the Uniform Standards of Professional Appraisal Practice (USPAP). The new edition will be available this fall and will become effective on Jan. 1, TAF announced in a release.

Unlike previous editions, it will not have an end date.

“Conducting this comprehensive review and revision of the Ethics Rule will benefit the profession and the public,” ASB Chair Michelle Czekalski Bradley said in the release. “The Board was pleased by the results of this process and feels that this new edition of USPAP will be an asset to appraisers and the public alike who are seeking to gain a better understanding of an appraiser’s ethical obligations and requirements under fair housing laws and regulations.

“Bias and discrimination have never been permitted by our standards, and now that is clear to all who read them,” Czekalski Bradley added.

All exposure drafts are developed by the ASB and released for public comment. Successive exposure drafts are updated and released based on public comments on previous drafts.