Full Text of HB5709 98th General Assembly
HB5709ham001 98TH GENERAL ASSEMBLY | Rep. Anthony DeLuca Filed: 3/20/2014
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| 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| 7 | | (Section scheduled to be repealed on January 1, 2022)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 |
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| 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. |
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| 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 |
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| 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 |
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| 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. |
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| 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. |
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| 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.)".
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