Senate committee substitute to the 1st edition makes the following changes.

Amends the act's long title.

Discards the abbreviation “AQB” from the definition of “Appraiser Qualifications Board” in GS 93E-1-4. Revises the definition of “Approved PAREA Program” to remove a reference to the Appraisal Foundation. Removes the abbreviation “PAREA” and a reference to the Appraisal Foundation from the definition of “Practical Applications of Real Estate Appraisal” in subsection (9a).

Restructures the changes to GS 93E-1-6 by discarding the change to subdivision (a)(6), and specifying in subsection (a1) that an applicant may satisfy the licensure requirements for a residential real estate appraiser for education, experience, and examination by completing (1) the traditional supervisor and trainee pathway or (2) the PAREA pathway which is amended to only require successfully graduating from an approved Practical Applications of Real Estate Appraisal program and pass the state licensing exam. Removes reporting requirements for those selecting the PAREA pathway. Discards the first edition’s provisions related to license or certification as a certified residential real estate appraiser for those licensed or certified in another state under GS 93E-1-9.

Specifies that the act is effective and applies to applications for licensure submitted on or after October 1, 2025, discarding the first edition’s references to certification and reciprocal licensure and certification.