Reduces membership of State Real Estate Appraiser Board and prohibits discriminatory practices in property appraisals.

This bill reduces the State Real Estate Appraiser Board from 11 to 7 members and prohibits appraisers from discriminating in property valuations based on race, color, or national origin of the property owner, buyer, or neighborhood occupants. It requires the Department of Law and Public Safety to investigate discrimination complaints and direct the Board to take disciplinary action, including voiding discriminatory appraisals, ordering restitution, and mandating anti-bias training for first violations. For repeated violations, the Board can suspend licenses (second offense) or revoke them for at least two years (third offense), with civil penalties up to $10,000 for multiple violations. The policy directly affects licensed real estate appraisers and appraisal management companies operating in New Jersey.