Full Text of HB2720 98th General Assembly
HB2720ham002 98TH GENERAL ASSEMBLY | Rep. Robert Rita Filed: 4/16/2013
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| 1 | | AMENDMENT TO HOUSE BILL 2720
| 2 | | AMENDMENT NO. ______. Amend House Bill 2720 by replacing | 3 | | everything after the enacting clause with the following:
| 4 | | "Section 5. The Real Estate Appraiser Licensing Act of 2002 | 5 | | is amended by changing Section 5-5 as follows:
| 6 | | (225 ILCS 458/5-5)
| 7 | | (Section scheduled to be repealed on January 1, 2022)
| 8 | | Sec. 5-5. Necessity of license; use of title; exemptions.
| 9 | | (a) It
is unlawful for a person to (i) act, offer services, | 10 | | or advertise services
as a State certified general real estate
| 11 | | appraiser, State certified residential real estate appraiser, | 12 | | or associate real estate trainee appraiser, (ii)
develop a real | 13 | | estate appraisal,
(iii)
practice as a real estate
appraiser, or | 14 | | (iv)
advertise or hold himself or herself out to be a real | 15 | | estate
appraiser
without a license issued under this Act. A | 16 | | person who
violates this subsection is
guilty of a Class A |
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| 1 | | misdemeanor for a first offense and a Class 4 felony for any | 2 | | subsequent offense.
| 3 | | (a-5) It is unlawful for a person, unless registered as an | 4 | | appraisal management company, to solicit clients or enter into | 5 | | an appraisal engagement with clients without either a certified | 6 | | residential real estate appraiser license or a certified | 7 | | general real estate appraiser license issued under this Act. A | 8 | | person who violates this subsection is guilty of a Class A | 9 | | misdemeanor for a first offense and a Class 4 felony for any | 10 | | subsequent offense. | 11 | | (b) It
is unlawful for a person, other than a
person who | 12 | | holds a valid license issued pursuant to this
Act as a State | 13 | | certified general real estate appraiser, a
State
certified
| 14 | | residential real estate appraiser,
or an associate real estate | 15 | | trainee appraiser to use these titles or any other title, | 16 | | designation, or
abbreviation likely to create the
impression | 17 | | that the person is licensed as a real estate appraiser pursuant | 18 | | to
this Act. A person who
violates this subsection is guilty of | 19 | | a Class A misdemeanor for a first offense and a Class 4 felony | 20 | | for any subsequent offense.
| 21 | | (c)
The licensing requirements of this Act
do not
require a | 22 | | person who holds a
valid license pursuant to the Real Estate | 23 | | License Act of 2000, to be licensed
as a real estate appraiser
| 24 | | under this Act,
unless that person is
providing
or attempting | 25 | | to provide an appraisal report, as defined in Section
1-10 of | 26 | | this Act, in connection with a federally-related transaction. |
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| 1 | | Nothing in this Act shall prohibit a person who holds a valid | 2 | | license under the Real Estate License Act of 2000 from | 3 | | performing a comparative market analysis or broker price | 4 | | opinion for compensation, provided that the person does not | 5 | | hold himself out as being a licensed real estate appraiser. | 6 | | (d) Nothing in this Act shall preclude a State certified | 7 | | general real estate appraiser, a State certified residential | 8 | | real estate appraiser, or an associate real estate trainee | 9 | | appraiser from rendering appraisals for or on behalf of a | 10 | | partnership, association, corporation, firm, or group. | 11 | | However, no State appraisal license or certification shall be | 12 | | issued under this Act to a partnership, association, | 13 | | corporation, firm, or group.
| 14 | | (e) This Act does not apply to a county assessor, township | 15 | | assessor, multi-township assessor, county supervisor of | 16 | | assessments, or any deputy or employee of any county assessor, | 17 | | township assessor, multi-township assessor, or county | 18 | | supervisor of assessments who is performing his or her | 19 | | respective duties in accordance with the provisions of the | 20 | | Property Tax Code.
| 21 | | (e-5) For the purposes of this Act, the following types of | 22 | | valuations are not appraisals and may not be represented to be | 23 | | appraisals, valuation waivers may be prepared by a licensed | 24 | | appraiser notwithstanding any other provision of this Act and a | 25 | | license is not required under this Act to
perform such | 26 | | valuations if the valuations are performed by an employee of |
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| 1 | | the Illinois Department of Transportation or an employee of a | 2 | | county under the following circumstances : | 3 | | (1) if performed by an employee of the Illinois | 4 | | Department of Transportation, a valuation waiver in an | 5 | | amount not to exceed $10,000, performed by a licensed | 6 | | professional engineer under the Professional Engineering | 7 | | Practice Act of 1989 or co-signed by a State certified | 8 | | general appraiser, and prepared under the federal Uniform | 9 | | Relocation Assistance and Real Property Acquisition | 10 | | Policies Act of 1970; | 11 | | (2) if performed by an employee of the Illinois | 12 | | Department of Transportation, a valuation waiver in an | 13 | | amount not to exceed $10,000, performed by a licensed | 14 | | professional engineer under the Professional Engineering | 15 | | Practice Act of 1989 or co-signed by a State certified | 16 | | general appraiser, and prepared under the federal Uniform | 17 | | Relocation Assistance and Real Property Acquisition for | 18 | | Federal and Federally-Assisted Programs regulations; | 19 | | (3) if performed by a county engineer employed by a | 20 | | county who is a licensed professional engineer under the | 21 | | Professional Engineering Practice Act of 1989, a valuation | 22 | | waiver in an amount not to exceed $10,000 prepared under | 23 | | the federal Uniform Relocation Assistance and Real | 24 | | Property Acquisition Policies Act of 1970; | 25 | | (4) if performed by a county engineer employed by a | 26 | | county who is a licensed professional engineer under the |
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| 1 | | Professional Engineering Practice Act of 1989, a valuation | 2 | | waiver in an amount not to exceed $10,000 prepared under | 3 | | the federal Uniform Relocation Assistance and Real | 4 | | Property Acquisition for Federal and Federally-Assisted | 5 | | Programs regulations; | 6 | | (5) a valuation waiver in an amount not to exceed | 7 | | $10,000 and limited to the valuation of a temporary | 8 | | easement prepared under the federal Uniform Relocation | 9 | | Assistance and Real Property Acquisition Policies Act of | 10 | | 1970; or | 11 | | (6) a valuation waiver in an amount not to exceed | 12 | | $10,000 and limited to the valuation of a temporary | 13 | | easement prepared under the federal Uniform Relocation | 14 | | Assistance and Real Property Acquisition for Federal and | 15 | | Federally-Assisted Programs regulations. | 16 | | (1) a valuation waiver in an amount not to exceed | 17 | | $10,000 prepared pursuant to the federal Uniform | 18 | | Relocation Assistance and Real Property Acquisition | 19 | | Policies Act of 1970, as
amended; or | 20 | | (2) a valuation waiver in an amount not to exceed | 21 | | $10,000 prepared pursuant to the federal Uniform | 22 | | Relocation Assistance and Real Property Acquisition for | 23 | | Federal and
Federally-Assisted Programs regulations. | 24 | | Nothing in this subsection (e-5) shall be construed to | 25 | | allow the State of Illinois, a political subdivision thereof, | 26 | | or any public body to acquire real estate by eminent domain in |
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| 1 | | any manner
other than provided for in the Eminent Domain Act. | 2 | | (f) A State real estate appraisal certification or license | 3 | | is not required under this Act for any of the following: | 4 | | (1) A person, partnership, association, or corporation | 5 | | that performs appraisals of property owned by that person, | 6 | | partnership, association, or corporation for the sole use | 7 | | of that person, partnership, association, or corporation. | 8 | | (2) A court-appointed commissioner who conducts an | 9 | | appraisal pursuant to a judicially ordered evaluation of | 10 | | property. | 11 | | However, any person who is certified or licensed under this Act | 12 | | and who performs any of the activities set forth in this | 13 | | subsection (f) must comply with the provisions of this Act. A | 14 | | person who violates this subsection (f) is guilty of a Class A | 15 | | misdemeanor for a first offense and a Class 4 felony for any | 16 | | subsequent offense. | 17 | | (g) This Act does not apply to an employee, officer, | 18 | | director, or member of a credit or loan committee of a | 19 | | financial institution or any other person engaged by a | 20 | | financial institution when performing an evaluation of real | 21 | | property for the sole use of the financial institution in a | 22 | | transaction for which the financial institution would not be | 23 | | required to use the services of a State licensed or State | 24 | | certified appraiser pursuant to federal regulations adopted | 25 | | under Title XI of the federal Financial Institutions Reform, | 26 | | Recovery, and Enforcement Act of 1989, nor does this Act apply |
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| 1 | | to the procurement of an automated valuation model. | 2 | | "Automated valuation model" means an automated system that | 3 | | is used to derive a property value through the use of publicly | 4 | | available property records and various analytic methodologies | 5 | | such as comparable sales prices, home characteristics, and | 6 | | historical home price appreciations.
| 7 | | (Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11.)
| 8 | | Section 99. Effective date. This Act takes effect upon | 9 | | becoming law.".
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