SAVIANO. 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, 2002. 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 MOTION FILED PURSUANT TO HOUSE FEB-28-2001 H RULE 60(B), I MOVE FEB-28-2001 H TO TABLE HB 2544 FEB-28-2001 H -SAVIANO FEB-28-2001 H MOTION PREVAILED FEB-28-2001 H TABLED BY SPONSOR HRUL END OF INQUIRY Full Text Bill Summary