|
Rep. Anthony DeLuca
Filed: 3/20/2014
| | 09800HB5709ham001 | | LRB098 18353 ZMM 57211 a |
|
|
1 | | AMENDMENT TO HOUSE BILL 5709
|
2 | | AMENDMENT NO. ______. Amend House Bill 5709 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7 | | (Section scheduled to be repealed on January 1, 2022)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 |
|
| | 09800HB5709ham001 | - 2 - | LRB098 18353 ZMM 57211 a |
|
|
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. |
|
| | 09800HB5709ham001 | - 3 - | LRB098 18353 ZMM 57211 a |
|
|
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, valuation waivers may |
22 | | be prepared by a licensed appraiser notwithstanding any other |
23 | | provision of this Act, and the following types of valuations |
24 | | are not appraisals and may not be represented to be appraisals, |
25 | | and a license is not required under this Act to
perform such |
26 | | valuations if the valuations are performed by (1) an employee |
|
| | 09800HB5709ham001 | - 4 - | LRB098 18353 ZMM 57211 a |
|
|
1 | | of the Illinois Department of Transportation who has completed |
2 | | a minimum of 45 hours of course work in real estate appraisal, |
3 | | including the principals of real estate appraisals, appraisal |
4 | | of partial acquisitions, easement valuation, reviewing |
5 | | appraisals in eminent domain, appraisal for federal aid highway |
6 | | programs, and appraisal review for federal aid highway programs |
7 | | and has at least 2 years' experience in a field closely related |
8 | | to real estate ; or (2) a county engineer who is a registered |
9 | | professional engineer under the Professional Engineering |
10 | | Practice Act of 1989 ; (3) an employee of a municipality who has |
11 | | completed a minimum of 45 hours of course work in real estate |
12 | | appraisal, including the principals of real estate appraisals, |
13 | | appraisal of partial acquisitions, easement valuation, |
14 | | reviewing appraisals in eminent domain, appraisal for federal |
15 | | aid highway programs, and appraisal review for federal aid |
16 | | highway programs; or (4) a municipal engineer who has completed |
17 | | the Illinois Department of Transportation's waiver valuation |
18 | | class and who is a registered professional engineer under the |
19 | | Professional Engineering Practice Act of 1989 , under the |
20 | | following circumstances: |
21 | | (A) a valuation waiver in an amount not to exceed |
22 | | $10,000 prepared pursuant to the federal Uniform |
23 | | Relocation Assistance and Real Property Acquisition |
24 | | Policies Act of 1970, or prepared pursuant to the federal |
25 | | Uniform Relocation Assistance and Real Property |
26 | | Acquisition for Federal and Federally-Assisted Programs |
|
| | 09800HB5709ham001 | - 5 - | LRB098 18353 ZMM 57211 a |
|
|
1 | | regulations and which is performed by (1) an employee of |
2 | | the Illinois Department of Transportation and co-signed, |
3 | | with a license number affixed, by another employee of the |
4 | | Illinois Department of Transportation who is a registered |
5 | | professional engineer under the Professional Engineering |
6 | | Practice Act of 1989 or (2) an employee of a municipality |
7 | | and co-signed with a license number affixed by a county or |
8 | | municipal engineer who is a registered professional |
9 | | engineer under the Professional Engineering Practice Act |
10 | | of 1989 ; and |
11 | | (B) a valuation waiver in an amount not to exceed |
12 | | $10,000 prepared pursuant to the federal Uniform |
13 | | Relocation Assistance and Real Property Acquisition |
14 | | Policies Act of 1970, or prepared pursuant to the federal |
15 | | Uniform Relocation Assistance and Real Property |
16 | | Acquisition for Federal and Federally-Assisted Programs |
17 | | regulations and which is performed by a county or municipal |
18 | | engineer who is employed by a county or municipality and is |
19 | | a registered professional engineer under the Professional |
20 | | Engineering Practice Act of 1989. In addition to his or her |
21 | | signature, the county or municipal engineer shall affix his |
22 | | or her license number to the valuation. |
23 | | Nothing in this subsection (e-5) shall be construed to |
24 | | allow the State of Illinois, a political subdivision thereof, |
25 | | or any public body to acquire real estate by eminent domain in |
26 | | any manner
other than provided for in the Eminent Domain Act. |
|
| | 09800HB5709ham001 | - 6 - | LRB098 18353 ZMM 57211 a |
|
|
1 | | (f) A State real estate appraisal certification or license |
2 | | is not required under this Act for any of the following: |
3 | | (1) A person, partnership, association, or corporation |
4 | | that performs appraisals of property owned by that person, |
5 | | partnership, association, or corporation for the sole use |
6 | | of that person, partnership, association, or corporation. |
7 | | (2) A court-appointed commissioner who conducts an |
8 | | appraisal pursuant to a judicially ordered evaluation of |
9 | | property. |
10 | | However, any person who is certified or licensed under this Act |
11 | | and who performs any of the activities set forth in this |
12 | | subsection (f) must comply with the provisions of this Act. A |
13 | | person who violates this subsection (f) is guilty of a Class A |
14 | | misdemeanor for a first offense and a Class 4 felony for any |
15 | | subsequent offense. |
16 | | (g) This Act does not apply to an employee, officer, |
17 | | director, or member of a credit or loan committee of a |
18 | | financial institution or any other person engaged by a |
19 | | financial institution when performing an evaluation of real |
20 | | property for the sole use of the financial institution in a |
21 | | transaction for which the financial institution would not be |
22 | | required to use the services of a State licensed or State |
23 | | certified appraiser pursuant to federal regulations adopted |
24 | | under Title XI of the federal Financial Institutions Reform, |
25 | | Recovery, and Enforcement Act of 1989, nor does this Act apply |
26 | | to the procurement of an automated valuation model. |
|
| | 09800HB5709ham001 | - 7 - | LRB098 18353 ZMM 57211 a |
|
|
1 | | "Automated valuation model" means an automated system that |
2 | | is used to derive a property value through the use of publicly |
3 | | available property records and various analytic methodologies |
4 | | such as comparable sales prices, home characteristics, and |
5 | | historical home price appreciations.
|
6 | | (Source: P.A. 97-602, eff. 8-26-11; 98-444, eff. 8-16-13.)".
|