On September 9, 2005, the Appraisal Standards Board (ASB) of The Appraisal Foundation announced information regarding the effective date of the 2005 edition of the Uniform Standards of Professional Appraisal Practice (USPAP) and the release and effective dates of the 2006 edition of USPAP. There is a change from the recent practice of one-year effective dates that began January 1 and ended December 31.

The Board stated that the 2005 USPAP will remain effective until at least June 30, 2006.

Therefore, for purposes of continuing education, licensees renewing before the release of the 2006 USPAP edition will not be able to complete a 2006 USPAP update course. The 2005 USPAP update course will suffice for renewal. Furthermore, those who renew before the release of USPAP 2006, the minimum number of USPAP hours required will be 14 or two update courses. However, if you completed the 15-Hour National USPAP course prior to January 1, 2005, you may use that credit in place of one update course. A 15-hour USPAP course taken after January 1, 2005 may not be credited for continuing education. At this time all licensees remain obligated to complete a USPAP Update course with each new edition of USPAP. All appraisers must, at a minimum, complete the 7- USPAP update course every 24 months. Failure to do so would violate the Appraisal Foundation's Qualification Criteria and may result in removal from the National Registry and discipline by the Board.