Illinois General Assembly

  Bills & Resolutions  
  Compiled Statutes  
  Public Acts  
  Legislative Reports  
  IL Constitution  
  Legislative Guide  
  Legislative Glossary  

 Search By Number
 (example: HB0001)
Search Tips

Search By Keyword

 Bill Status of HB0657  100th General Assembly


Short Description:  ACCOUNTANTS-EQUIVALENCY

House Sponsors
Rep. Robert Rita

Last Action
DateChamber Action
  4/28/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
225 ILCS 450/0.03from Ch. 111, par. 5500.03
225 ILCS 450/5.2
225 ILCS 450/13from Ch. 111, par. 5514
225 ILCS 450/14.5 new
225 ILCS 450/16from Ch. 111, par. 5517


Synopsis As Introduced
Amends the Illinois Public Accounting Act. Allows a certified public accountant (CPA) firm whose principal place of business is not in this State to have all the privileges of a CPA firm licensed under the Act without the need to obtain a license from the Department of Financial and Professional Regulation or to file notice with the Department if the CPA firm complies with specified substantial equivalency requirements; makes conforming changes. Provides that firms that do not meet certain requirements but offer or render services in the State must hold a license issued under the Act. Provides for the appointment of a CPA Coordinator and provides the duties and responsibilities for the role. Provides that every application for renewal of a license by a licensed CPA who has been licensed under the Act for 3 years or more shall be accompanied or supported by evidence showing the completion of professional education as prescribed by Department rule (rather than showing the completion of 120 hours of continuing professional education each 3 years as prescribed by Department rule). Provides that a CPA firm or sole practitioner shall comply with Department rules and notify the Peer Review Administrator within 30 days after accepting an engagement for services requiring a license and to undergo a peer review within 18 months after the end of the period covered by the engagement (rather than undergo its first peer review during the first full renewal cycle after it is granted its initial license). Effective immediately.

Actions 
DateChamber Action
  1/25/2017HouseFiled with the Clerk by Rep. Robert Rita
  1/25/2017HouseFirst Reading
  1/25/2017HouseReferred to Rules Committee
  2/8/2017HouseAssigned to Business & Occupational Licenses Committee
  2/23/2017HouseTo Business Licenses Subcommittee
  3/22/2017HouseRecommends Do Pass Subcommittee/ Business & Occupational Licenses Committee; 003-000-000
  3/22/2017HouseRemains in Business & Occupational Licenses Committee
  3/22/2017HouseDo Pass / Short Debate Business & Occupational Licenses Committee; 009-000-000
  3/23/2017HousePlaced on Calendar 2nd Reading - Short Debate
  4/7/2017HouseSecond Reading - Short Debate
  4/7/2017HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/24/2017HousePlaced on Calendar - Consideration Postponed
  4/24/2017HouseThird Reading - Consideration Postponed
  4/28/2017HouseRule 19(a) / Re-referred to Rules Committee

Back To Top