90th General Assembly
Summary of HB1214
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House Sponsors:
SAVIANO-GRANBERG-RYDER-CAPPARELLI-MOORE,EUGENE.

Senate Sponsors:
DILLARD-MOLARO

Short description: 
REAL EST APPRAISER LIC ACT                                                 

Synopsis of Bill as introduced:
        Creates the Real Estate Appraiser Licensing Act to  regulate  the      
   practice  of  real  estate  appraisal  through licensing requirements.      
   Repeals Article 2 of the Real Estate License Act of 1983.  Amends  the      
   Regulatory Agency Sunset Act to sunset the new Act on January 1, 2008.      
   Effective October 1, 1997.                                                  
        HOUSE AMENDMENT NO. 1.                                                 
        Makes technical changes.                                               
        HOUSE AMENDMENT NO. 2.                                                 
          Deletes reference to:                                                
          5 ILCS 80/4.18 new                                                   
          225 ILCS 455/15                                                      
          225 ILCS 455/23                                                      
          225 ILCS 455/Art. 2 rep.                                             
        Changes the title  and  deletes  everything  after  the  enacting      
   clause except the short title.                                              
        SENATE AMENDMENT NO. 1.                                                
          Adds reference to:                                                   
          New Act                                                              
          5 ILCS 80/4.18                                                       
          225 ILCS 455/15                 from Ch. 111, par. 5815              
          225 ILCS 455/23                 from Ch. 111, par. 5823              
          225 ILCS 455/Art. 2 rep.                                             
        Creates the Real Estate Appraiser Licensing Act  to  provide  for      
   the  regulation  by the Office of Banks and Real Estate of real estate      
   appraisers required in federally  related  transactions.   Amends  the      
   Regulatory Agency Sunset Act to sunset the new Act on January 1, 2008.      
   Repeals  Article  2  of  the  Real  Estate  License Act of 1983, which      
   regulates real estate appraisers.   Further  amends  the  Real  Estate      
   License  Act of 1983 to delete references to that Article 2. Effective      
   July 1, 1998.                                                               
 
Last action on Bill: PUBLIC ACT.............................. 90-0571

   Last action date: 98-02-06

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   2     SENATE -   1


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