Rep. Frank J. Mautino

Filed: 3/19/2013

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 596

2    AMENDMENT NO. ______. Amend House Bill 596 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Real Estate Appraiser Licensing Act of 2002
5is 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7    (Section scheduled to be repealed on January 1, 2022)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,
10or advertise services as a State certified general real estate
11appraiser, State certified residential real estate appraiser,
12or associate real estate trainee appraiser, (ii) develop a real
13estate appraisal, (iii) practice as a real estate appraiser, or
14(iv) advertise or hold himself or herself out to be a real
15estate appraiser without a license issued under this Act. A
16person who violates this subsection is guilty of a Class A

 

 

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1misdemeanor for a first offense and a Class 4 felony for any
2subsequent offense.
3    (a-5) It is unlawful for a person, unless registered as an
4appraisal management company, to solicit clients or enter into
5an appraisal engagement with clients without either a certified
6residential real estate appraiser license or a certified
7general real estate appraiser license issued under this Act. A
8person who violates this subsection is guilty of a Class A
9misdemeanor for a first offense and a Class 4 felony for any
10subsequent offense.
11    (b) It is unlawful for a person, other than a person who
12holds a valid license issued pursuant to this Act as a State
13certified general real estate appraiser, a State certified
14residential real estate appraiser, or an associate real estate
15trainee appraiser to use these titles or any other title,
16designation, or abbreviation likely to create the impression
17that the person is licensed as a real estate appraiser pursuant
18to this Act. A person who violates this subsection is guilty of
19a Class A misdemeanor for a first offense and a Class 4 felony
20for any subsequent offense.
21    (c) The licensing requirements of this Act do not require a
22person who holds a valid license pursuant to the Real Estate
23License Act of 2000, to be licensed as a real estate appraiser
24under this Act, unless that person is providing or attempting
25to provide an appraisal report, as defined in Section 1-10 of
26this Act, in connection with a federally-related transaction.

 

 

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1Nothing in this Act shall prohibit a person who holds a valid
2license under the Real Estate License Act of 2000 from
3performing a comparative market analysis or broker price
4opinion for compensation, provided that the person does not
5hold himself out as being a licensed real estate appraiser.
6    (d) Nothing in this Act shall preclude a State certified
7general real estate appraiser, a State certified residential
8real estate appraiser, or an associate real estate trainee
9appraiser from rendering appraisals for or on behalf of a
10partnership, association, corporation, firm, or group.
11However, no State appraisal license or certification shall be
12issued under this Act to a partnership, association,
13corporation, firm, or group.
14    (e) This Act does not apply to a county assessor, township
15assessor, multi-township assessor, county supervisor of
16assessments, or any deputy or employee of any county assessor,
17township assessor, multi-township assessor, or county
18supervisor of assessments or any employee of the Department of
19Revenue who is performing his or her respective duties in
20accordance with the provisions of the Property Tax Code.
21    (e-5) For the purposes of this Act, the following types of
22valuations are not appraisals and may not be represented to be
23appraisals, and a license is not required under this Act to
24perform such valuations if the valuations are performed by an
25employee of the Illinois Department of Transportation or an
26employee of a county:

 

 

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1        (1) a valuation waiver in an amount not to exceed
2    $10,000 prepared pursuant to the federal Uniform
3    Relocation Assistance and Real Property Acquisition
4    Policies Act of 1970, as amended; or
5        (2) a valuation waiver in an amount not to exceed
6    $10,000 prepared pursuant to the federal Uniform
7    Relocation Assistance and Real Property Acquisition for
8    Federal and Federally-Assisted Programs regulations.
9    Nothing in this subsection (e-5) shall be construed to
10allow the State of Illinois, a political subdivision thereof,
11or any public body to acquire real estate by eminent domain in
12any manner other than provided for in the Eminent Domain Act.
13    (f) A State real estate appraisal certification or license
14is not required under this Act for any of the following:
15        (1) A person, partnership, association, or corporation
16    that performs appraisals of property owned by that person,
17    partnership, association, or corporation for the sole use
18    of that person, partnership, association, or corporation.
19        (2) A court-appointed commissioner who conducts an
20    appraisal pursuant to a judicially ordered evaluation of
21    property.
22However, any person who is certified or licensed under this Act
23and who performs any of the activities set forth in this
24subsection (f) must comply with the provisions of this Act. A
25person who violates this subsection (f) is guilty of a Class A
26misdemeanor for a first offense and a Class 4 felony for any

 

 

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1subsequent offense.
2    (g) This Act does not apply to an employee, officer,
3director, or member of a credit or loan committee of a
4financial institution or any other person engaged by a
5financial institution when performing an evaluation of real
6property for the sole use of the financial institution in a
7transaction for which the financial institution would not be
8required to use the services of a State licensed or State
9certified appraiser pursuant to federal regulations adopted
10under Title XI of the federal Financial Institutions Reform,
11Recovery, and Enforcement Act of 1989, nor does this Act apply
12to the procurement of an automated valuation model.
13    "Automated valuation model" means an automated system that
14is used to derive a property value through the use of publicly
15available property records and various analytic methodologies
16such as comparable sales prices, home characteristics, and
17historical home price appreciations.
18(Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11.)
 
19    Section 99. Effective date. This Act takes effect upon
20becoming law.".