Date	Chamber	Action
5/19/2006	House	Public Act . . . . . . . . . 94-0779

Statutes Amended In Order of Appearance

225 ILCS 450/0.03

from Ch. 111, par. 5500.03

225 ILCS 450/6.1

225 ILCS 450/9.01

225 ILCS 450/14.3

225 ILCS 450/16

from Ch. 111, par. 5517

225 ILCS 450/20.01

from Ch. 111, par. 5521.01

225 ILCS 450/20.1

from Ch. 111, par. 5522

225 ILCS 450/27

from Ch. 111, par. 5533

Synopsis As Introduced
Amends the Illinois Public Accounting Act. Defines "peer review program" as a review of compliance with professional standards of practice (now, generally accepted accounting principles and auditing standards and other generally accepted technical standards). Provides a definition of "Peer Review Administrator". Requires firms and sole practitioners providing accounting services under the Act to complete a peer review as a condition of renewing a license unless an exemption applies. Allows the Department of Financial and Professional Regulation to adopt rules. Provides penalties for failure to comply with remedial actions determined appropriate by the Peer Review Administrator. Requires the firm or sole practitioner to pay for the costs of the peer review. Provides that the peer review proceedings, records, reports, and other documents are privileged and provides exceptions to the privilege. Provides for the peer review year of combined or divided firms or sole practitioners. Makes other changes. Effective immediately.

House Amendment No. 1

	Adds reference to:
	225 ILCS 450/9.3 new

Deletes everything after the enacting clause. Reinserts the provisions of the bill as introduced with the following changes. Adds a provision authorizing and directing the Board of Examiners and the Department of Financial and Professional Regulation to share information with each other regarding those individuals and entities licensed or certified or applying for licensure or certification under the Illinois Public Accounting Act. Removes the provision concerning restrictions on information that may be obtained in any civil action, arbitration, or administrative proceeding. Effective immediately.

	Fiscal Note (Dept. of Financial & Prof. Regulation)
	It is difficult to estimate the potential cost since we cannot project the rate of noncompliance or the personnel and opertational costs for hearings up to six years from the current date.

Actions 

Date	Chamber	Action
1/12/2006	House	Filed with the Clerk by Rep. Lovana Jones
1/12/2006	House	First Reading
1/12/2006	House	Referred to Rules Committee
2/14/2006	House	Assigned to Consumer Protection Committee
2/14/2006	House	Motion to Suspend Rule 25 - Prevailed
2/15/2006	House	Added Chief Co-Sponsor Rep. Frank J. Mautino
2/15/2006	House	Added Chief Co-Sponsor Rep. Gary Hannig
2/15/2006	House	Added Chief Co-Sponsor Rep. Art Tenhouse
2/16/2006	House	Do Pass / Short Debate Consumer Protection Committee; 013-000-000
2/16/2006	House	Placed on Calendar 2nd Reading - Short Debate
2/24/2006	House	House Amendment No. 1 Filed with Clerk by Rep. Lovana Jones
2/24/2006	House	House Amendment No. 1 Referred to Rules Committee
2/28/2006	House	House Amendment No. 1 Recommends Be Adopted Rules Committee; 005-000-000
2/28/2006	House	Second Reading - Short Debate
2/28/2006	House	Held on Calendar Order of Second Reading - Short Debate
3/1/2006	House	Added Co-Sponsor Rep. Constance A. Howard
3/1/2006	House	Added Co-Sponsor Rep. Annazette Collins
3/1/2006	House	Added Co-Sponsor Rep. Mary E. Flowers
3/1/2006	House	House Amendment No. 1 Adopted by Voice Vote
3/1/2006	House	Placed on Calendar Order of 3rd Reading - Short Debate
3/1/2006	House	Added Chief Co-Sponsor Rep. Thomas Holbrook
3/2/2006	House	Third Reading - Short Debate - Passed 115-000-001
3/2/2006	Senate	Arrive in Senate
3/2/2006	Senate	Placed on Calendar Order of First Reading March 7, 2006
3/2/2006	Senate	Chief Senate Sponsor Sen. Louis S. Viverito
3/2/2006	House	Added Co-Sponsor Rep. Aaron Schock
3/2/2006	House	Added Co-Sponsor Rep. David R. Leitch
3/7/2006	Senate	Fiscal Note Filed from the Illinois Department of Financial and Professional Regulation.
3/7/2006	Senate	First Reading
3/7/2006	Senate	Referred to Rules
3/15/2006	Senate	Assigned to Licensed Activities
3/24/2006	Senate	Do Pass Licensed Activities; 005-000-000
3/24/2006	Senate	Placed on Calendar Order of 2nd Reading March 27, 2006
3/28/2006	Senate	Second Reading
3/28/2006	Senate	Placed on Calendar Order of 3rd Reading March 29, 2006
3/29/2006	Senate	Added as Alternate Chief Co-Sponsor Sen. Kwame Raoul
3/29/2006	Senate	Third Reading - Passed; 054-003-000
3/29/2006	House	Passed Both Houses
4/27/2006	House	Sent to the Governor
5/19/2006	House	Governor Approved
5/19/2006	House	Effective Date May 19, 2006
5/19/2006	House	Public Act . . . . . . . . . 94-0779

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