1. Short title This Act may be cited as the Accelerating Appraisals and Conservation Efforts Act or the AACE Act . 2. Appraisal and valuation services for real property (a) License, certification requirement A covered appraiser needs to be licensed or certified in only 1 State to perform appraisal or valuation services for real property in any State for a transaction over which the Secretary has jurisdiction. (b) Use of non-Federal covered appraisers If the Secretary uses a non-Federal covered appraiser to perform appraisal or valuation services for real property for a transaction described in subsection (a), the Secretary— (1) shall, to the maximum extent practicable, use a non-Federal covered appraiser who is a certified general real property appraiser licensed in a State in which the real property that is the subject of the transaction is located; and (2) may only use a non-Federal covered appraiser who is a certified general real property appraiser licensed in a State other than one in which the real property that is the subject of the transaction is located if a non-Federal covered appraiser described in paragraph (1) is, as determined by the Secretary— (A) unavailable; (B) not assignment qualified; or (C) not cost competitive. (c) Report Not later than 1 year after the date of the enactment of this section, and annually thereafter for at least the following 4 years, the Secretary shall submit to Congress a report that includes the following: (1) A comparison using quantitative data of— (A) the number of requests for appraisal and valuation services received by the Department during the reporting period and the number of requests for such services received by the Department in each of the 5 years before the reporting period