Bill Status of HB 2956   97th General Assembly

Short Description:  APPRAISAL MGT COMPANY REG ACT

House Sponsors
Rep. JoAnn D. Osmond-Robert Rita

Senate Sponsors
(Sen. Terry Link, Suzi Schmidt and Pamela J. Althoff-Susan Garrett)


Last Action  View All Actions

DateChamber Action
  1/8/2013HouseSession Sine Die

Statutes Amended In Order of Appearance
New Act

Synopsis As Introduced
Creates the Appraisal Management Company Registration Act. Provides for registration of appraisal management companies with the Department of Financial and Professional Regulation. Beginning January 1, 2012, provides that it is unlawful for a person or entity to act or assume to act as an appraisal management company as defined in this Act, to engage in the business of appraisal management service, or to advertise or hold himself or herself out to be a registered appraisal management company without first obtaining a certificate of registration issued by the Department under this Act. Includes provisions concerning exemption from the Act. Provides that persons practicing as an appraisal management company in Illinois on the effective date of the Act may continue to practice until the Department has adopted rules implementing the Act. Provides that persons shall apply for registration within 180 days after the effective date of the rules and the person may continue to practice until the Department acts to grant or deny registration. Provides that each entity registered under this Act shall designate a controlling person who is responsible to assure that the company operates in compliance with this Act. Sets forth the powers and duties of the Department, registration qualifications, grounds for discipline, civil and criminal penalties, and administrative procedure. Sets forth provisions concerning standards of practice and prohibited activities. Preempts home rule. Effective immediately.

House Committee Amendment No. 1
Replaces everything after the enacting clause. Reinserts the introduced bill with changes. Provides a definition for "appraisal firm". Removes a provision concerning an exemption for a real estate broker or real estate managing broker. Provides that in the event that the Final Interim Rule of the federal Dodd-Frank Wall Street Reform and Consumer Protection Act provides that an appraisal management company is a subsidiary owned and controlled by a financial institution regulated by a federal financial institution's regulatory agency and is exempt from State appraisal management company registration requirements, the Department, shall, by rule, provide for the implementation of such an exemption. Makes a corresponding change in the provision concerning business practice provisions and standards of practice. Effective immediately.

House Floor Amendment No. 3
Adds an exemption to this Act for any person acting as an agent of the Illinois Department of Transportation in the acquisition or relinquishment of land for transportation issues to the extent of their contract scope.

House Floor Amendment No. 4
Makes changes to the business practice provisions, standards of practice. Provides that to the extent permitted by federal law or regulation, the Department shall formulate rules pertaining to customary and reasonable rates of compensation for fee appraisers. Removes language that the Department may not adopt rules or policies that contradict or change the presumptions of compliance as established under the Final Interim Rule of the federal Frank-Dodd Wall Street Reform and Consumer Protection Act.

Senate Committee Amendment No. 2
Deletes reference to:
New Act
Adds reference to:
225 ILCS 10/1from Ch. 23, par. 2211

Replaces everything after the enacting clause. Amends the Child Care Act of 1969. Makes a technical change in a Section concerning the short title.

Senate Floor Amendment No. 3
Deletes reference to:
225 ILCS 10/1
Adds reference to:
55 ILCS 5/5-12001.2 new

Replaces everything after the enacting clause. Amends the Counties Code. Provides that for every new wireless telecommunications facility in Lake County requiring a new tower structure, a telecommunications carrier shall provide the county with documentation consisting of the proposed location, a site plan, and an elevation that sufficiently describes a proposed wireless facility location. Sets forth procedures concerning the review of the proposal, meetings to propose alternative site locations, and the selection of any alternative locations. Sets forth exceptions to the approval process. Effective immediately.

Actions 
DateChamber Action
  2/23/2011HouseFiled with the Clerk by Rep. Angelo Saviano
  2/23/2011HouseChief Co-Sponsor Rep. Robert Rita
  2/23/2011HouseFirst Reading
  2/23/2011HouseReferred to Rules Committee
  2/28/2011HouseAssigned to Business & Occupational Licenses Committee
  3/15/2011HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Angelo Saviano
  3/15/2011HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/16/2011HouseHouse Committee Amendment No. 1 Rules Refers to Business & Occupational Licenses Committee
  3/16/2011HouseHouse Committee Amendment No. 1 Adopted in Business & Occupational Licenses Committee; by Voice Vote
  3/16/2011HouseDo Pass as Amended / Short Debate Business & Occupational Licenses Committee; 009-000-000
  3/17/2011HousePlaced on Calendar 2nd Reading - Short Debate
  3/17/2011HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Angelo Saviano
  3/17/2011HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  3/28/2011HouseHouse Floor Amendment No. 2 Recommends Be Adopted Rules Committee; 004-000-000
  3/29/2011HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Angelo Saviano
  3/29/2011HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  3/30/2011HouseHouse Floor Amendment No. 3 Recommends Be Adopted Rules Committee; 004-000-000
  4/8/2011HouseHouse Floor Amendment No. 4 Filed with Clerk by Rep. Angelo Saviano
  4/8/2011HouseHouse Floor Amendment No. 4 Referred to Rules Committee
  4/11/2011HouseHouse Floor Amendment No. 4 Rules Refers to Business & Occupational Licenses Committee
  4/12/2011HouseHouse Floor Amendment No. 4 Recommends Be Adopted Business & Occupational Licenses Committee; 006-000-000
  4/14/2011HouseSecond Reading - Short Debate
  4/14/2011HouseHeld on Calendar Order of Second Reading - Short Debate
  4/15/2011HouseHouse Floor Amendment No. 2 Withdrawn by Rep. Angelo Saviano
  4/15/2011HouseHouse Floor Amendment No. 3 Adopted by Voice Vote
  4/15/2011HouseHouse Floor Amendment No. 4 Adopted by Voice Vote
  4/15/2011HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/15/2011HouseThird Reading - Short Debate - Passed 083-022-001
  4/22/2011SenateArrive in Senate
  4/22/2011SenatePlaced on Calendar Order of First Reading May 3, 2011
  4/27/2011SenateChief Senate Sponsor Sen. Iris Y. Martinez
  4/27/2011SenateFirst Reading
  4/27/2011SenateReferred to Assignments
  10/12/2011SenateAssigned to Executive
  10/24/2011SenateRule 2-10 Third Reading Deadline Established As November 10, 2011
  10/24/2011SenatePostponed - Executive
  10/25/2011SenatePostponed - Executive
  11/1/2011SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Iris Y. Martinez
  11/1/2011SenateSenate Committee Amendment No. 1 Referred to Assignments
  11/8/2011SenateSenate Committee Amendment No. 2 Filed with Secretary by Sen. Iris Y. Martinez
  11/8/2011SenateSenate Committee Amendment No. 2 Referred to Assignments
  11/8/2011SenateSenate Committee Amendment No. 2 Assignments Refers to Executive
  11/8/2011SenateSenate Committee Amendment No. 2 Adopted
  11/8/2011SenateDo Pass as Amended Executive; 009-002-003
  11/8/2011SenatePlaced on Calendar Order of 2nd Reading November 9, 2011
  1/14/2012SenatePursuant to Senate Rule 3-9(b) / Referred to Assignments
  5/8/2012SenateAlternate Chief Sponsor Changed to Sen. Don Harmon
  5/22/2012SenateAlternate Chief Sponsor Changed to Sen. Terry Link
  5/22/2012SenateAdded as Alternate Co-Sponsor Sen. Suzi Schmidt
  5/22/2012SenateApproved for Consideration Assignments
  5/22/2012SenatePlaced on Calendar Order of 2nd Reading May 23, 2012
  5/22/2012SenateSenate Floor Amendment No. 3 Filed with Secretary by Sen. Terry Link
  5/22/2012SenateSenate Floor Amendment No. 3 Referred to Assignments
  5/22/2012SenateSenate Floor Amendment No. 3 Assignments Refers to Local Government
  5/23/2012SenateSenate Floor Amendment No. 3 Recommend Do Adopt Local Government; 006-000-000
  5/23/2012SenateAdded as Alternate Co-Sponsor Sen. Pamela J. Althoff
  5/23/2012SenateSecond Reading
  5/23/2012SenateSenate Floor Amendment No. 3 Adopted; Link
  5/23/2012SenatePlaced on Calendar Order of 3rd Reading May 24, 2012
  5/23/2012SenateAdded as Alternate Chief Co-Sponsor Sen. Susan Garrett
  5/24/2012SenateThird Reading - Passed; 050-005-000
  5/24/2012SenateSenate Committee Amendment No. 1 Tabled Pursuant to Rule 5-4(a)
  5/24/2012HouseArrived in House
  5/24/2012HousePlaced on Calendar Order of Concurrence Senate Amendment(s) 2, 3
  5/24/2012HouseChief Sponsor Changed to Rep. JoAnn D. Osmond
  5/25/2012HouseSenate Committee Amendment No. 2 Motion Filed Concur Rep. JoAnn D. Osmond
  5/25/2012HouseSenate Floor Amendment No. 3 Motion Filed Concur Rep. JoAnn D. Osmond
  5/25/2012HouseSenate Committee Amendment No. 2 Motion to Concur Referred to Rules Committee
  5/25/2012HouseSenate Floor Amendment No. 3 Motion to Concur Referred to Rules Committee
  7/27/2012HouseRule 19(b) / Re-referred to Rules Committee
  1/8/2013HouseSession Sine Die

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