(5)__Statistics;

(6)__Introduction to computers, word processing and spreadsheets; and

(7)__Business or real estate law.

An applicant may receive credit for a college course for an exam taken through a college-level examination program if a college or university accredited by a commission on colleges, a regional or national accreditation association or an accrediting agency that is recognized by the United States Secretary of Education accepts the exam and issues a transcript showing its approval;

B.__Satisfactorily complete 200 creditable class hours as specified in the appraiser qualifications board's required core curriculum, which must include the 15-hour national uniform standards of professional appraisal practice course and examination;

C.__Pass the appraiser qualifications board's uniform state- certified residential real property appraiser examination; and

D. Hold a valid license under this chapter and demonstrate 2,500 hours of appraisal experience obtained during no fewer than 24 months.

3.__Effective date.__This section takes effect January 1, 2008.

Sec. 8. 32 MRSA §14037 is enacted to read:

§14037. Licensed residential real property appraiser

1.__Scope of license.__For federally related transactions, a residential real property appraiser license entitles the holder to appraise noncomplex residential property of one to 4 units having a transaction value of less than $1,000,000 and complex residential property of one to 4 units having a transaction value of less than $250,000.__For purposes of this section, "complex residential property of one to 4 units" means property that is atypical based on the nature of the property, the form of ownership or the market conditions.__For nonfederally related transaction appraisals, "transaction value" means market value.__ A residential real property appraiser license entitles the holder to appraise vacant or unimproved land that is used for one to 4