H.R. 2553 would require the Appraisal Subcommittee of the Federal Financial Institutions Examination Council (FFIEC) to establish an interagency task force on real estate valuation and to coordinate with private-sector entities to encourage diversity among newly hired appraisers. The task force would terminate five years after enactment. The bill also would authorize the appropriation of $50 million annually for fiscal years 2022 through 2026 to provide grants to states, nonprofit organizations, and postsecondary education institutions to promote diversity and inclusion in the real estate appraisal profession.
