SB 1735 proposes changes to the regulation of real estate appraisers and appraisal management companies. It establishes a stipend program to support appraiser trainees and supervisors, considering financial need in awarding stipends. It also revises the licensing and certification requirements for controlling persons of appraisal management companies and strengthens rules for ensuring compliance. The bill redirects penalties collected from violations to the general revenue fund instead of a restricted fund for education and consumer protection.