100TH GENERAL ASSEMBLY
State of Illinois
2017 and 2018
HB0723
 
Introduced 1/25/2017, by Rep. Robert Rita
 
SYNOPSIS AS INTRODUCED:
 

 
765 ILCS 77/Art. 3.5 heading new
765 ILCS 77/85 new

     Creates the Real Estate Appraisal Fees Article of the Residential Real Property Disclosure Act. Provides that in any residential real estate closing document in which real estate appraisal fees are shown, the fee paid to an appraiser shall be shown separately from the fee paid to an appraisal management company.
  


LRB100 06156 HEP 16189 b

 
 
A BILL FOR
 

  
HB0723LRB100 06156 HEP 16189 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 Residential Real Property Disclosure Act is 
5amended  by adding Article 3.5 as follows:
 
6    (765 ILCS 77/Art. 3.5 heading new)
7
ARTICLE 3.5
8
REAL ESTATE APPRAISAL FEES

 
9    (765 ILCS 77/85 new)
10    Sec. 85. Residential real estate closing documents. In any 
11residential real estate closing document in which real estate 
12appraisal fees are shown, the fee paid to an appraiser shall be 
13shown separately from the fee paid to an appraisal management 
14company.