101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB2963

 

Introduced , by Rep. Tony McCombie

 

SYNOPSIS AS INTRODUCED:
 
735 ILCS 5/13-214.5 new

    Amends the Code of Civil Procedure. Provides that an action based upon tort, contract, or otherwise against specified persons and entities for an act or omission committed while engaged in appraisal practice shall be commenced within 2 years from the time the person bringing an action knew or should reasonably have known of the act or omission. Provides that in no event shall an action against specified persons and entities be brought more than 5 years after the date the act or omission committed while engaged in appraisal practice and giving rise to the cause of action occurred. Provides that the new provisions apply to actions commenced on or after the effective date.


LRB101 09629 JRG 54727 b

 

 

A BILL FOR

 

HB2963LRB101 09629 JRG 54727 b

1    AN ACT concerning civil law.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Code of Civil Procedure is amended by adding
5Section 13-214.5 as follows:
 
6    (735 ILCS 5/13-214.5 new)
7    Sec. 13-214.5. Appraisers.
8    (a) An action based upon tort, contract, or otherwise
9against any person who is currently, or who was previously,
10licensed under the Real Estate Appraiser Licensing Act of 2002,
11or any entity, sole proprietorship, corporation, limited
12liability company, partnership, or joint venture, foreign or
13domestic, of which a person who is currently licensed, or who
14was previously licensed, under the Real Estate Appraiser
15Licensing Act of 2002, is currently, or was previously, an
16owner, employee, member, shareholder, or partner, for an act or
17omission committed while engaged in appraisal practice, as that
18term is defined in Section 1-10 of the Real Estate Appraiser
19Licensing Act of 2002, shall be commenced within 2 years from
20the time the person or entity bringing an action knew or should
21reasonably have known of the act or omission.
22    (b) In no event shall an action against a person who is
23currently, or who was previously, licensed under the Real

 

 

HB2963- 2 -LRB101 09629 JRG 54727 b

1Estate Appraiser Licensing Act of 2002, or against any entity,
2sole proprietorship, corporation, limited liability company,
3partnership, or joint venture, foreign or domestic, of which a
4person who is currently, or who was previously, licensed under
5the Real Estate Appraiser Licensing Act of 2002, is currently,
6or was previously, an owner, employee, member, shareholder or
7partner, for an act or omission committed while engaged in
8appraisal practice, as that term is defined in Section 1-10 of
9the Real Estate Appraiser Licensing Act of 2002, be brought
10more than 5 years after the date the act or omission committed
11while engaged in appraisal practice and giving rise to the
12cause of action occurred.
13    (c) This Section applies to actions commenced on or after
14its effective date.