In accordance with the Paperwork Reduction Act of 1995, the Appraisal Subcommittee (ASC) invites public comments on its intention to request approval by the Office of Management and Budget (OMB) to renew an information collection request entitled “Collection and Transmission of Annual AMC Registry Fees,” according to a post on the Federal Register website.

The information collection request states that register and supervise appraisal management companies are required to collect and transmit annual AMC registry fees to the ASC.

12 CFR part 1102, and in particular section 1102.402, established the annual AMC registry fee for states that register and supervise AMCs as follows:

• in the case of an AMC that has been in existence for more than a year, $25 multiplied by the number of appraisers who have performed an appraisal for the AMC on a covered transaction in such state during the previous year; and
• in the case of an AMC that has not been in existence for more than a year, $25 multiplied by the number of appraisers who have performed an appraisal for the AMC on a covered transaction in such state since the AMC commenced doing business. Performance of an appraisal means the appraisal service requested of an appraiser by the AMC was provided to the AMC.

Section 1102.403 requires AMC registry fees to be collected and transmitted to the ASC on an annual basis by states that register and supervise AMCs. Only those AMCs whose registry fees have been transmitted to the ASC are eligible to be on the AMC Registry for the 12-month period following the payment of the fee.

Section 1102.403 clarified that states may align a one-year period with any 12-month period, which may, or may not, be based on the calendar year. The registration cycle is left to the individual states to determine.

Written comments must be received on or before Aug. 28 to be assured of consideration.

Commenters are encouraged to submit comments by the Federal eRulemaking Portal or email, if possible, using Docket Number AS23–09.

Use the Federal eRulemaking Portal: https://www,regulations.gov and follow the instructions for submitting comments. Click on the “Help” tab on the home page to get information on using Regulations.gov, including instructions for submitting public comments.

For email, go to [email protected] and include the docket number in the subject line of the message. To send a fax, dial (202) 289-4101 and include docket number on fax cover sheet.

For regular mail or hand delivery/courier, send comments to Appraisal Subcommittee, Attn: Lori Schuster, Management and Program Analyst, 1325 G Street NW, Suite 500, Washington, DC 20005.