Illinois General Assembly - Full Text of Public Act 098-0933
Illinois General Assembly

Previous General Assemblies

Public Act 098-0933


 

Public Act 0933 98TH GENERAL ASSEMBLY

  
  
  

 


 
Public Act 098-0933
 
HB5709 EnrolledLRB098 18353 ZMM 55449 b

    AN ACT concerning regulation.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Real Estate Appraiser Licensing Act of 2002
is amended by changing Section 5-5 as follows:
 
    (225 ILCS 458/5-5)
    (Section scheduled to be repealed on January 1, 2022)
    Sec. 5-5. Necessity of license; use of title; exemptions.
    (a) It is unlawful for a person to (i) act, offer services,
or advertise services as a State certified general real estate
appraiser, State certified residential real estate appraiser,
or associate real estate trainee appraiser, (ii) develop a real
estate appraisal, (iii) practice as a real estate appraiser, or
(iv) advertise or hold himself or herself out to be a real
estate appraiser without a license issued under this Act. A
person who violates this subsection is guilty of a Class A
misdemeanor for a first offense and a Class 4 felony for any
subsequent offense.
    (a-5) It is unlawful for a person, unless registered as an
appraisal management company, to solicit clients or enter into
an appraisal engagement with clients without either a certified
residential real estate appraiser license or a certified
general real estate appraiser license issued under this Act. A
person who violates this subsection is guilty of a Class A
misdemeanor for a first offense and a Class 4 felony for any
subsequent offense.
    (b) It is unlawful for a person, other than a person who
holds a valid license issued pursuant to this Act as a State
certified general real estate appraiser, a State certified
residential real estate appraiser, or an associate real estate
trainee appraiser to use these titles or any other title,
designation, or abbreviation likely to create the impression
that the person is licensed as a real estate appraiser pursuant
to this Act. A person who violates this subsection is guilty of
a Class A misdemeanor for a first offense and a Class 4 felony
for any subsequent offense.
    (c) The licensing requirements of this Act do not require a
person 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 that person is providing or attempting
to provide an appraisal report, as defined in Section 1-10 of
this Act, in connection with a federally-related transaction.
Nothing in this Act shall prohibit a person who holds a valid
license under the Real Estate License Act of 2000 from
performing a comparative market analysis or broker price
opinion for compensation, provided that the person does not
hold himself out as being a licensed real estate appraiser.
    (d) Nothing in this Act shall preclude a State certified
general real estate appraiser, a State certified residential
real estate appraiser, or an associate real estate trainee
appraiser from rendering appraisals for or on behalf of a
partnership, association, corporation, firm, or group.
However, no State appraisal license or certification shall be
issued under this Act to a partnership, association,
corporation, firm, or group.
    (e) This Act does not apply to a county assessor, township
assessor, multi-township assessor, county supervisor of
assessments, or any deputy or employee of any county assessor,
township assessor, multi-township assessor, or county
supervisor of assessments who is performing his or her
respective duties in accordance with the provisions of the
Property Tax Code.
    (e-5) For the purposes of this Act, valuation waivers may
be prepared by a licensed appraiser notwithstanding any other
provision of this Act, and the following types of valuations
are not appraisals and may not be represented to be appraisals,
and a license is not required under this Act to perform such
valuations if the valuations are performed by (1) an employee
of the Illinois Department of Transportation who has completed
a minimum of 45 hours of course work in real estate appraisal,
including the principals of real estate appraisals, appraisal
of partial acquisitions, easement valuation, reviewing
appraisals in eminent domain, appraisal for federal aid highway
programs, and appraisal review for federal aid highway programs
and has at least 2 years' experience in a field closely related
to real estate; or (2) a county engineer who is a registered
professional engineer under the Professional Engineering
Practice Act of 1989; (3) an employee of a municipality who has
(i) completed a minimum of 45 hours of coursework in real
estate appraisal, including the principals of real estate
appraisals, appraisal of partial acquisitions, easement
valuation, reviewing appraisals in eminent domain, appraisal
for federal aid highway programs, and appraisal review for
federal aid highway programs and (ii) has either 2 years'
experience in a field clearly related to real estate or has
completed 20 hours of additional coursework that is sufficient
for a person to complete waiver valuations as approved by the
Federal Highway Administration; or (4) a municipal engineer who
has completed coursework that is sufficient for his or her
waiver valuations to be approved by the Federal Highway
Administration and who is a registered professional engineer
under the Professional Engineering Act of 1989, under the
following circumstances:
        (A) a valuation waiver in an amount not to exceed
    $10,000 prepared pursuant to the federal Uniform
    Relocation Assistance and Real Property Acquisition
    Policies Act of 1970, or prepared pursuant to the federal
    Uniform Relocation Assistance and Real Property
    Acquisition for Federal and Federally-Assisted Programs
    regulations and which is performed by (1) an employee of
    the Illinois Department of Transportation and co-signed,
    with a license number affixed, by another employee of the
    Illinois Department of Transportation who is a registered
    professional engineer under the Professional Engineering
    Practice Act of 1989 or (2) an employee of a municipality
    and co-signed with a license number affixed by a county or
    municipal engineer who is a registered professional
    engineer under the Professional Engineering Practice Act
    of 1989; and
        (B) a valuation waiver in an amount not to exceed
    $10,000 prepared pursuant to the federal Uniform
    Relocation Assistance and Real Property Acquisition
    Policies Act of 1970, or prepared pursuant to the federal
    Uniform Relocation Assistance and Real Property
    Acquisition for Federal and Federally-Assisted Programs
    regulations and which is performed by a county or municipal
    engineer who is employed by a county or municipality and is
    a registered professional engineer under the Professional
    Engineering Practice Act of 1989. In addition to his or her
    signature, the county or municipal engineer shall affix his
    or her license number to the valuation.
    Nothing in this subsection (e-5) shall be construed to
allow the State of Illinois, a political subdivision thereof,
or any public body to acquire real estate by eminent domain in
any manner other than provided for in the Eminent Domain Act.
    (f) A State real estate appraisal certification or license
is not required under this Act for any of the following:
        (1) A person, partnership, association, or corporation
    that performs appraisals of property owned by that person,
    partnership, association, or corporation for the sole use
    of that person, partnership, association, or corporation.
        (2) A court-appointed commissioner who conducts an
    appraisal pursuant to a judicially ordered evaluation of
    property.
However, any person who is certified or licensed under this Act
and who performs any of the activities set forth in this
subsection (f) must comply with the provisions of this Act. A
person who violates this subsection (f) is guilty of a Class A
misdemeanor for a first offense and a Class 4 felony for any
subsequent offense.
    (g) This Act does not apply to an employee, officer,
director, or member of a credit or loan committee of a
financial institution or any other person engaged by a
financial institution when performing an evaluation of real
property for the sole use of the financial institution in a
transaction for which the financial institution would not be
required to use the services of a State licensed or State
certified appraiser pursuant to federal regulations adopted
under Title XI of the federal Financial Institutions Reform,
Recovery, and Enforcement Act of 1989, nor does this Act apply
to the procurement of an automated valuation model.
    "Automated valuation model" means an automated system that
is used to derive a property value through the use of publicly
available property records and various analytic methodologies
such as comparable sales prices, home characteristics, and
historical home price appreciations.
(Source: P.A. 97-602, eff. 8-26-11; 98-444, eff. 8-16-13.)

Effective Date: 1/1/2015