Maryland Higher Education Commission - PAREA Grant Program - Established

HB 607 establishes the PAREA Grant Program to provide financial assistance to minorities residing in historically redlined neighborhoods and underrepresented communities for training to become real estate appraisers. The program aims to close appraisal gaps in these areas, diversify the appraisal profession, and support individuals pursuing real estate appraisal careers. Administered by the Maryland Higher Education Commission, the grants directly target residents in communities historically excluded from the appraisal field. This policy creates a concrete pathway for career development in a specific profession while addressing documented disparities in real estate services.