California Labor Federation AFL-CIO www.workingcalifornia.org

Headquarters: 600 Grand Ave 1127 11th Street 3303 Wilshire Boulevard Suite 410 Suite 425 Suite 415 Oakland, CA 94610-3561 Sacramento, CA 95814-3809 Los Angeles, CA 90010-1798 510.663.4000 tel 916.444.3676 tel 213.736.1770 tel 510.663.4099 fax 916.444.7693 fax 213.736.1777 fax

August 20, 2015 Senator Ricardo Lara Chair, Senate Appropriations Committee State Capitol, Room 2206 Sacramento, CA 95814 RE: AB 624 (Wilk) – OPPOSE Dear Senator Lara: The California Labor Federation opposes AB 624 (Wilk), which would allow real estate appraisers to use any standard of valuation practice, including any nationally or internationally recognized valuation standard, when conducting a non-federal real estate appraisal. Currently, real estate appraisers must conduct appraisals in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP), which is federally authorized. The purpose of the USPAP is to set universal, minimum standards for appraisals nationally and to eliminate inconsistencies from state to state or region to region. This bill would create an exemption from the USPAP, allowing appraisers to use any standard of valuation practice that is nationally or internationally recognized. The exemption in AB 624 would create an unnecessary loophole in the law, allowing appraisers to opt-out of the federally-authorized standard that was designed to standardize appraisals across the country. It is also unclear what entity would regulate the new standards of valuation or that would ensure that the standards used are nationally-recognized. The USPAP is designed to standardize the real estate appraisers industry to protect appraisers and consumers. We urge you to vote “NO” on AB 624 (Wilk) when it comes before you in the Senate Appropriations Committee Suspense File. Sincerely, Sara Flocks Public Policy Coordinator SF: sm OPEIU 3 AFL CIO (31)

Cc: Committee Members Assemblyman Scott Wilk