Illinois General Assembly - Bill Status for HB5868
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 Bill Status of HB5868  96th General Assembly

Short Description:  REAL ESTATE APPRAISAL COMPANY

House Sponsors
Rep. Angelo Saviano - Kevin A. McCarthy - Karen May - William Davis - Jim Durkin, Sara Feigenholtz and Rosemary Mulligan

Senate Sponsors
(Sen. Terry Link - Pamela J. Althoff - M. Maggie Crotty - Iris Y. Martinez and A. J. Wilhelmi)

Last Action
DateChamber Action
  1/11/2011HouseSession Sine Die

Statutes Amended In Order of Appearance
225 ILCS 458/1-10
225 ILCS 458/5-5
225 ILCS 458/5-20.3 new
225 ILCS 458/10-10
225 ILCS 458/15-5
225 ILCS 458/15-15
225 ILCS 458/25-10


Synopsis As Introduced
Amends the Real Estate Appraiser Licensing Act of 2002. Provides for the licensure of appraisal companies under the Act. Provides that the Department of Financial and Professional Regulation shall adopt by rule standards for the licensure of appraisal companies and charge a licensing fee not to exceed $50. Provides conditions for licensure as a real estate appraiser or appraisal company for corporations and partnerships. Prohibits the licensure of limited liability companies. Provides conditional exemptions from the Act to certain persons and entities. Provides criminal penalties for engaging in certain activities without a license as a real estate appraiser or appraisal company. Prohibits certain means of influencing an appraisal. Provides requirements for appraisers concerning the maintenance of a place of business within the State. Specifies that the Board has the power to investigate the actions of a licensee or applicant. Defines "appraisal company", "appraisal management company", "managing appraiser", "turnaround time", and "due date"; requires due dates to be calculated on Central Standard (rather than Daylight Savings) Time. Makes other changes.

House Committee Amendment No. 1
Deletes reference to:
225 ILCS 458/1-10
225 ILCS 458/5-5
225 ILCS 458/5-20.3 new
225 ILCS 458/10-10
225 ILCS 458/15-5
225 ILCS 458/15-15
225 ILCS 458/25-10
Adds reference to:
225 ILCS 458/1-5

Replaces everything after the enacting clause. Amends the Real Estate Appraiser Licensing Act of 2002. Makes a technical change in a provision concerning legislative intent.

House Floor Amendment No. 2
Deletes reference to:
225 ILCS 458/1-5
Adds reference to:
225 ILCS 458/1-10
225 ILCS 458/5-5
225 ILCS 458/5-20.3 new
225 ILCS 458/10-10
225 ILCS 458/15-5
225 ILCS 458/15-15
225 ILCS 458/25-10

Deletes everything after the enacting clause and reinserts the bill as introduced, with the following changes: changes the definition of "appraiser"; makes changes in certain exemption provisions; provides that a licensed appraisal company is not required to maintain a definite office or place of business in the State if it meets certain specified conditions; removes exemption for a corporation, partnership, sole proprietorship, subsidiary, unit or other business entity that meets certain conditions; makes changes to provisions concerning the standards of practice; makes changes to provisions concerning unlawful influence; increases the total number of Board members to 11 and provides that one appointed member shall be a representative of an appraisal management company; and removes provision that the Board shall adopt an official letterhead.

House Floor Amendment No. 3
Provides that 6 members of the Real Estate Appraisal Administration and Disciplinary Board shall constitute a quorum and that a quorum is required to exercise all of the rights and perform all of the duties of the Board.

Actions 
DateChamber Action
  2/10/2010HouseFiled with the Clerk by Rep. Angelo Saviano
  2/10/2010HouseFirst Reading
  2/10/2010HouseReferred to Rules Committee
  2/16/2010HouseAssigned to Business & Occupational Licenses Committee
  3/10/2010HouseHouse Committee Amendment No. 1 Filed with Clerk by Business & Occupational Licenses Committee
  3/10/2010HouseHouse Committee Amendment No. 1 Adopted in Business & Occupational Licenses Committee; by Voice Vote
  3/10/2010HouseDo Pass as Amended / Short Debate Business & Occupational Licenses Committee; 009-000-000
  3/10/2010HousePlaced on Calendar 2nd Reading - Short Debate
  3/19/2010HouseHouse Floor Amendment No. 2 Filed with Clerk by Rep. Angelo Saviano
  3/19/2010HouseHouse Floor Amendment No. 2 Referred to Rules Committee
  3/22/2010HouseHouse Floor Amendment No. 3 Filed with Clerk by Rep. Angelo Saviano
  3/22/2010HouseHouse Floor Amendment No. 3 Referred to Rules Committee
  3/22/2010HouseAdded Co-Sponsor Rep. Sara Feigenholtz
  3/22/2010HouseAdded Chief Co-Sponsor Rep. Kevin A. McCarthy
  3/23/2010HouseAdded Chief Co-Sponsor Rep. Karen May
  3/24/2010HouseHouse Floor Amendment No. 2 Rules Refers to Business & Occupational Licenses Committee
  3/24/2010HouseHouse Floor Amendment No. 3 Rules Refers to Business & Occupational Licenses Committee
  3/24/2010HouseAdded Chief Co-Sponsor Rep. William Davis
  3/24/2010HouseAdded Chief Co-Sponsor Rep. Jim Durkin
  3/25/2010HouseHouse Floor Amendment No. 2 Recommends Be Adopted Business & Occupational Licenses Committee; 012-000-000
  3/25/2010HouseHouse Floor Amendment No. 3 Recommends Be Adopted Business & Occupational Licenses Committee; 012-000-000
  3/25/2010HouseAdded Co-Sponsor Rep. Rosemary Mulligan
  3/25/2010HouseSecond Reading - Short Debate
  3/25/2010HouseHouse Floor Amendment No. 2 Adopted by Voice Vote
  3/25/2010HouseHouse Floor Amendment No. 3 Adopted by Voice Vote
  3/25/2010HousePlaced on Calendar Order of 3rd Reading - Short Debate
  3/26/2010HouseThird Reading - Short Debate - Passed 079-023-000
  4/6/2010SenateArrive in Senate
  4/6/2010SenatePlaced on Calendar Order of First Reading
  4/6/2010SenateChief Senate Sponsor Sen. Terry Link
  4/6/2010SenateAdded as Alternate Chief Co-Sponsor Sen. Pamela J. Althoff
  4/6/2010SenateFirst Reading
  4/6/2010SenateReferred to Assignments
  4/6/2010SenateAssigned to Financial Institutions
  4/8/2010SenateAdded as Alternate Chief Co-Sponsor Sen. M. Maggie Crotty
  4/13/2010SenateAdded as Alternate Chief Co-Sponsor Sen. Iris Y. Martinez
  4/15/2010SenatePostponed - Financial Institutions
  4/15/2010SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Terry Link
  4/15/2010SenateSenate Committee Amendment No. 1 Referred to Assignments
  4/20/2010SenateSenate Committee Amendment No. 1 Assignments Refers to Financial Institutions
  4/22/2010SenateSenate Committee Amendment No. 1 Postponed - Financial Institutions
  4/22/2010SenatePostponed - Financial Institutions
  4/23/2010SenateRule 2-10 Committee Deadline Established As May 7, 2010
  4/26/2010SenateAdded as Alternate Co-Sponsor Sen. A. J. Wilhelmi
  4/29/2010SenateSenate Committee Amendment No. 1 Postponed - Financial Institutions
  4/29/2010SenatePostponed - Financial Institutions
  5/7/2010SenateSenate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments
  5/7/2010SenateRule 3-9(a) / Re-referred to Assignments
  1/11/2011HouseSession Sine Die

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