Public Law 118 – 230 – Accelerating Appraisals and Conservation Efforts Act
Summary
Public Law 118-230, also known as the Accelerating Appraisals and Conservation Efforts Act (AACE Act), was signed into law on January 31, 2025. This law aims to streamline the appraisal process for real property and conservation easements, while increasing funding for conservation efforts.
Key Provisions
Streamlining Appraisals:
- Establishes a new appraisal process for real property and conservation easements.
- Sets a maximum time frame of 60 days for appraisals for federal land acquisition.
- Allows for the use of desk appraisals or other expedited methods for certain properties.
- Authorizes the use of licensed appraisers from the private sector.
Conservation Funding:
- Increases funding for the Land and Water Conservation Fund (LWCF) by $300 million annually.
- Establishes a new Conservation Stewardship Program to provide financial assistance to landowners for conservation practices.
- Provides funding for the expansion and enhancement of national parks, wildlife refuges, and other protected areas.
Other Provisions:
- Authorizes the use of online appraisal submission portals.
- Requires the implementation of a quality assurance program for appraisals.
- Provides training and technical assistance to federal agencies and private sector appraisers.
Benefits
The AACE Act is expected to have several benefits, including:
- Faster and more efficient appraisal process: The streamlined appraisal process will reduce delays and uncertainty in real property transactions.
- Increased land conservation: The increased funding for the LWCF and other conservation programs will help protect important lands and ecosystems.
- Improved appraisal quality: The quality assurance program and training provisions will ensure the accuracy and reliability of appraisals.
- Cost savings: The use of private sector appraisers and expedited appraisal methods could potentially save the government money.
Implementation
The AACE Act authorizes various federal agencies, including the Department of the Interior, the Department of Agriculture, and the General Services Administration, to implement its provisions. The agencies are required to establish regulations and procedures to streamline the appraisal process and allocate conservation funding.
Conclusion
The Accelerating Appraisals and Conservation Efforts Act is a significant piece of legislation that will improve the appraisal process for real property and conservation easements, while also increasing funding for conservation efforts. These measures will help protect important lands and ecosystems, facilitate real estate transactions, and save the government money.
Public Law 118 – 230 – Accelerating Appraisals and Conservation Efforts Act” or the “AACE Act
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