Illinois General Assembly - Bill Status for SB2732
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 Bill Status of SB2732  94th General Assembly


Senate Sponsors
Sen. Louis S. Viverito

House Sponsors
(Rep. Lovana Jones - Kevin A. McCarthy - Art Tenhouse - Thomas Holbrook - Aaron Schock, Frank J. Mautino, Constance A. Howard and Annazette Collins)

Last Action
DateChamber Action
  11/29/2006SenateTotal Veto Stands

Statutes Amended In Order of Appearance
225 ILCS 450/0.03from Ch. 111, par. 5500.03
225 ILCS 450/6.1
225 ILCS 450/9.01
225 ILCS 450/14.3
225 ILCS 450/16from Ch. 111, par. 5517
225 ILCS 450/20.01from Ch. 111, par. 5521.01
225 ILCS 450/20.1from Ch. 111, par. 5522
225 ILCS 450/27from 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 Committee 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.

DateChamber Action
  1/20/2006SenateFiled with Secretary by Sen. Louis S. Viverito
  1/20/2006SenateFirst Reading
  1/20/2006SenateReferred to Rules
  2/8/2006SenateAssigned to Licensed Activities
  2/16/2006SenateDo Pass Licensed Activities; 008-000-000
  2/16/2006SenatePlaced on Calendar Order of 2nd Reading February 22, 2006
  2/22/2006SenateSecond Reading
  2/22/2006SenatePlaced on Calendar Order of 3rd Reading February 23, 2006
  2/23/2006SenateThird Reading - Passed; 058-000-000
  2/23/2006HouseArrived in House
  2/23/2006HousePlaced on Calendar Order of First Reading
  2/24/2006HouseChief House Sponsor Rep. Kevin A. McCarthy
  2/24/2006HouseFirst Reading
  2/24/2006HouseReferred to Rules Committee
  3/3/2006HouseAlternate Chief Sponsor Changed to Rep. Lovana Jones
  3/3/2006HouseAdded Alternate Chief Co-Sponsor Rep. Kevin A. McCarthy
  3/13/2006HouseAssigned to Consumer Protection Committee
  3/24/2006HouseHouse Committee Amendment No. 1 Filed with Clerk by Consumer Protection Committee
  3/24/2006HouseHouse Committee Amendment No. 1 Adopted in Consumer Protection Committee; by Voice Vote
  3/24/2006HouseDo Pass as Amended / Short Debate Consumer Protection Committee; 012-000-000
  3/24/2006HousePlaced on Calendar 2nd Reading - Short Debate
  3/28/2006HouseSecond Reading - Short Debate
  3/28/2006HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/29/2006HouseAdded Alternate Chief Co-Sponsor Rep. Art Tenhouse
  3/29/2006HouseAdded Alternate Chief Co-Sponsor Rep. Thomas Holbrook
  3/29/2006HouseAdded Alternate Chief Co-Sponsor Rep. Aaron Schock
  3/29/2006HouseAdded Alternate Co-Sponsor Rep. Frank J. Mautino
  3/29/2006HouseAdded Alternate Co-Sponsor Rep. Constance A. Howard
  3/29/2006HouseAdded Alternate Co-Sponsor Rep. Annazette Collins
  3/30/2006HouseThird Reading - Short Debate - Passed 112-000-001
  3/30/2006SenateSecretary's Desk - Concurrence House Amendment(s) 01
  3/30/2006SenatePlaced on Calendar Order of Concurrence House Amendment(s) 01-April 4, 2006
  4/4/2006SenateHouse Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Louis S. Viverito
  4/4/2006SenateHouse Committee Amendment No. 1 Motion to Concur Referred to Rules
  4/5/2006SenateHouse Committee Amendment No. 1 Motion to Concur Rules Referred to Licensed Activities
  4/5/2006SenateHouse Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Licensed Activities; 006-000-000
  4/6/2006SenateHouse Committee Amendment No. 1 Senate Concurs 058-000-000
  4/6/2006SenatePassed Both Houses
  5/5/2006SenateSent to the Governor
  6/16/2006SenateGovernor Vetoed
  11/14/2006SenatePlaced Calendar Total Veto November 15, 2006
  11/29/2006SenateTotal Veto Stands

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