US Codex
Bill
Notes

To clarify that nonprofit organizations such as Habitat for Humanity can accept donated mortgage appraisals, and for other purposes.

H.R. 3704 · 114th Congress · Oct 7, 2015 · Lineage

A BILL

Section 1 Exemption from Truth in Lending Act

Section 129E(i) of the Truth in Lending Act (15 U.S.C. 1639e(i)) is amended by adding at the end the following:

“(4) Rule of construction related to appraisal donations—For purposes of paragraph (1), if a fee appraiser voluntarily donates appraisal services to an organization eligible to receive tax-deductible charitable contributions, such voluntary donation shall be deemed customary and reasonable.”