92nd General Assembly
Status of HB2540
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   New Act                                                                     
   5 ILCS 80/4.18                                                              
   5 ILCS 80/4.22 new                                                          
   225 ILCS 457/Act rep.                                                       

        Creates  the  Real  Estate  Appraiser  Licensing  Act  of   2002.      
   Requires  a  person  to  possess  an  appraiser's  license in order to      
   appraise a home in a federally related  transaction  or  advertise  or      
   hold  himself  or  herself  out  as  an  appraiser.   Creates criminal      
   penalties for practicing without a license when it is  required  in  a      
   federally  related  transaction.     Creates  3 classes of appraisers:      
   general real estate appraiser, residential real estate appraiser,  and      
   associate  real estate appraiser.  Sets out guidelines for application      
   and renewal for each type of appraiser's license.  Requires  licensure      
   of education providers and approval of courses.  Creates the Appraisal      
   Administration  Fund.   Creates  a Real Estate Appraisal Board. Denies      
   home rule powers.  Repeals the Real Estate Appraiser Licensing Act  on      
   July  1,  2002.   Amends the Regulatory Sunset Act.  Effective July 1,      
        HOUSE AMENDMENT NO. 1.                                                 
        Changes the reference  from  appraisers  to  appraisers  of  real      
   estate in connection with a federally related transaction.  Removes as      
   a  ground  for  disciplinary  action  the  failure  of an appraiser to      
   include the date of the expiration  of  his  or  her  license  on  the      
   written  appraisal  report  forms.   Removes  the  requirement that an      
   accused pay for a transcript  of  the  record.   Removes  the  Section      
   concerning temporary suspension of a license.                               
        HOUSE AMENDMENT NO. 2.                                                 
        Provides that the  licensing  requirements  of  the  Act  do  not      
   require  a real estate broker or salesperson who holds a valid license      
   pursuant to the Real Estate License Act of 2000 to be  licensed  as  a      
   real estate appraiser under this Act, unless the broker or salesperson      
   is   providing  or  attempting  to  provide  an  appraisal  report  in      
   connection with a federally-related transaction.  Provides that the  2      
   real  estate  brokers  appointed  to  the  Board  shall  hold  a valid      
   appraiser license under the Act or a predecessor Act for  at  least  5      
   years  prior to the appointment.  Provides that persons serving on the      
   Board pursuant to the Real Estate Appraiser Licensing Act shall become      
   members of the new Board on  July  1,  2002  (was  January  1,  2002).      
   Provides  that  OBRE shall maintain and update a registry of the names      
   and addresses of all licensees and a listing  of  disciplinary  orders      
   issued  pursuant  to  this Act, and shall transmit the registry, along      
   with any national registry fees that may be required,  to  the  entity      
   specified by, and in a manner consistent with, Title XI of the federal      
   Financial  Institutions  Reform, Recovery and Enforcement Act of 1989.      
   Makes other changes.                                                        
   FEB-26-2001  H  FILED WITH CLERK                                               
   FEB-27-2001  H  FIRST READING                                                  
   FEB-27-2001  H  REFERRED TO HOUSE RULES COMMITTEE        RULES                 
   FEB-28-2001  H       ASSIGNED TO COMMITTEE               EXECUTIVE             
   MAR-16-2001  H                             AMENDMENT NO. 01-EXECUTIVE     H    
   MAR-16-2001  H                                   ADOPTED                       
   MAR-16-2001  H  DO PASS AMENDED/SHORT DEBATE             013-000-000   HEXC    
   MAR-16-2001  H  PLACED CALENDAR 2ND READING-SHORT DEBATE                       
   MAR-21-2001  H                             AMENDMENT NO. 02-SAVIANO            
   MAR-21-2001  H                     AMENDMENT REFERRED TO HRUL                  
   MAR-21-2001  H  CALENDAR ORDER 2ND READING-SHORT DEBATE                        
   MAR-22-2001  H  ADDED AS A JOINT SPONSOR                 HARTKE                
   MAR-26-2001  H                             AMENDMENT NO. 02-SAVIANO            
   MAR-26-2001  H  RECOMMENDS BE ADOPTED                    HRUL/004-000-000      
   MAR-26-2001  H  SECOND READING-SHORT DEBATE                                    
   MAR-26-2001  H                             AMENDMENT NO. 02-SAVIANO            
   MAR-26-2001  H                                   ADOPTED                       
   MAR-26-2001  H  PLCD CAL ORDER 3RD READING-SHORT DEBATE                        
   MAR-27-2001  H  PRIMARY SPONSOR CHANGED TO               PANKAU                
   MAR-27-2001  H  ADDED AS A JOINT SPONSOR                 SAVIANO               
   MAR-27-2001  H  THIRD READING/SHORT DEBATE/PASSED        116-000-000           
   MAR-28-2001  S  ARRIVE IN SENATE                                               
   MAR-28-2001  S  PLACED CALENDAR ORDER OF FIRST READING   01-03-29              
   MAR-28-2001  S  CHIEF SPONSOR                            NOLAND                
   MAR-28-2001  S  FIRST READING                                                  
   MAR-28-2001  S  REFERRED TO SENATE RULES COMMITTEE       RULES                 
   APR-06-2001  S       ASSIGNED TO COMMITTEE               LICENSED ACT.         
   APR-17-2001  S  ADDED AS A CO-SPONSOR                    BOWLES                
   APR-18-2001  S  ADDED AS A CHIEF CO-SPONSOR              DELEO                 
   APR-19-2001  S  ADDED AS A CO-SPONSOR                    KARPIEL               
   APR-26-2001  S       DO PASS                             009-000-000   SLIC    
   APR-26-2001  S  PLACED ON CALENDAR ORDER OF 2ND READING  01-05-01              
   MAY-01-2001  S  SECOND READING                                                 
   MAY-01-2001  S  PLACED ON CALENDAR ORDER OF 3RD READING  01-05-02              
   MAY-03-2001  S  THIRD READING - PASSED                   055-001-000           
   MAY-03-2001  H  PASSED BOTH HOUSES                                             
   JUN-01-2001  H  SENT TO THE GOVERNOR                                           
   JUL-27-2001  H  GOVERNOR APPROVED                                              
   JUL-27-2001  H                            EFFECTIVE DATE 02-07-01              
   JUL-27-2001  H  PUBLIC ACT.............................. 92-0180               


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