SB0899ham001 100TH GENERAL ASSEMBLY

Rep. Robert Rita

Filed: 5/11/2017

10000SB0899ham001 LRB100 05774 SMS 26253 a

AMENDMENT TO SENATE BILL 899

AMENDMENT NO. ______. Amend Senate Bill 899 on page 1, line 5, after "and 16", by inserting "and adding Section 14.5"; and

on page 2, immediately below line 9, by inserting the following:

""Coordinator" means the CPA Coordinator."; and

on page 10, immediately below line 14, by inserting the following:

"(225 ILCS 450/14.5 new)

Sec. 14.5. CPA Coordinator; duties. The Secretary shall appoint a CPA Coordinator, who shall hold a currently valid CPA license or registration. The Coordinator shall not practice during the term of his or her appointment. The Coordinator shall be exempt from all fees related to his or her CPA license or registration that come due during his or her employment. In appointing the Coordinator, the Secretary shall give due consideration to recommendations made by members, organizations, and associations of the CPA and accounting profession. The Coordinator shall:

(1) act as Chairperson of the Committee, ex officio, without a vote;

(2) be the direct liaison between the Department, the profession, and CPA and accounting organizations and associations;

(3) prepare and circulate to licensees any educational and informational material that the Department deems necessary for providing guidance or assistance to licensees;

(4) appoint any necessary committees to assist in the performance of the functions and duties of the Department under this Act; and

(5) subject to the administrative approval of the Secretary, supervise all activities relating to the regulation of the CPA profession."; and

on page 13, by replacing lines 17 through 21 with the following:

"A new CPA firm or sole practitioner shall not be required to comply with the peer review requirements for the first license renewal. A CPA firm or sole practitioner shall comply with the Department's rules adopted under this Act and agree to notify the Peer Review Administrator within 30 days after accepting an engagement for services requiring a license under this Act and to undergo a peer review within 18 months after the end of the period covered by the engagement. undergo its first peer review during the first full renewal cycle after it is granted its initial license.".