State of Illinois
91st General Assembly
Legislation

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91_HB4280eng

 
HB4280 Engrossed                               LRB9111059ACmg

 1        AN ACT to amend the Illinois Public Accounting Act.

 2        Be  it  enacted  by  the People of the State of Illinois,
 3    represented in the General Assembly:

 4        Section 5.  The Illinois Public Accounting Act is amended
 5    by changing Sections 5 and 14.2 as follows:

 6        (225 ILCS 450/5) (from Ch. 111, par. 5506)
 7        Sec. 5. Certification of out-of-State accountants.
 8        (a)  The Board may issue a  certificate  as  a  certified
 9    public  accountant, without examination, to any applicant who
10    holds a valid unrevoked certificate  as  a  certified  public
11    accountant  issued  under  the  laws  of  any  other state or
12    territory of the United States or the District  of  Columbia,
13    provided:
14             (1)  that  the state that issued the certificate has
15        certification requirements that have been  determined  by
16        the   Board   to   be  substantially  equivalent  to  the
17        certification requirements of Illinois and grants similar
18        rights to  those  that  Illinois  grants  to  certificate
19        holders;
20             (2)  that  the state that issued the certificate has
21        certification requirements that the Board Department has
22        determined not to  be  substantially  equivalent  to  the
23        certification  requirements of Illinois or does not grant
24        similar rights to Illinois certificate holders,  but  the
25        Board  determines that the individual applicant possesses
26        personal  qualifications  substantially   equivalent   to
27        Illinois' certification requirements; or
28             (3)  that  the  applicant  does  not  qualify  under
29        subsections   (1)   or   (2)  above,  but  the  following
30        conditions are met:
31                  (A)  the  certificate  was   granted   to   the
 
HB4280 Engrossed            -2-                LRB9111059ACmg
 1             applicant  on  the  basis  of  the Uniform Certified
 2             Public Accountant examination; and
 3                  (B)  the  educational  qualifications  of   the
 4             applicant  for  a  certificate,  at  the time of the
 5             written  examination,   were   equivalent   to   the
 6             educational    qualifications   then   required   of
 7             applicants for admission to the Illinois examination
 8             for certified public accountant  or,  the  applicant
 9             has, after passing the examination upon which his or
10             her  certificate was based, not less than 5 years of
11             experience in  the  practice  of  public  accounting
12             within  the  10  years  immediately  preceding  this
13             application,    otherwise    reasonably   considered
14             acceptable by the Board.
15        (b)  In determining the substantial  equivalency  of  the
16    requirements  for  certification  or  the  rights  granted to
17    certificate holders pursuant to this Section, the  Board  may
18    rely  on  the  determinations  of  the National Qualification
19    Appraisal Service of the National Association of State Boards
20    of Accountancy or any other qualification appraisal  service,
21    as it deems appropriate.
22    (Source: P.A. 91-508, eff. 8-13-99.)

23        (225 ILCS 450/14.2)
24        Sec. 14.2.  Licensure by endorsement.
25        (a)  The  Department  shall  issue  a license as a public
26    accountant to any applicant who  holds  a  certificate  as  a
27    certified public accountant issued by the Board and who holds
28    a  valid  unrevoked license or permit to practice as a public
29    accountant issued under  the  laws  of  any  other  state  or
30    territory  of  the United States or the District of Columbia,
31    provided:
32             (1)  the individual applicant is determined  by  the
33        Department    to    possess    personal    qualifications
 
HB4280 Engrossed            -3-                LRB9111059ACmg
 1        substantially   equivalent   to   this   State's  current
 2        licensing requirements;
 3             (2)  at the time the applicant received his  or  her
 4        current  valid  and  unrevoked  license  or  permit,  the
 5        applicant    possessed    qualifications    substantially
 6        equivalent  to  the  qualifications for licensure then in
 7        effect in this State; or
 8             (3)  the   applicant   has,   after   passing    the
 9        examination upon which his or her license or other permit
10        to   practice  was  based,  not  less  than  4  years  of
11        experience in the practice of  public  accounting  within
12        the 10 years immediately before the application.
13        (b)  In  determining  the  substantial equivalency of any
14    state's   requirements   to   Illinois'   requirements,   the
15    Department may rely on the  determinations  of  the  National
16    Qualification  Appraisal  Service of the National Association
17    of State Boards of Accountancy or  such  other  qualification
18    appraisal service as it deems appropriate.
19    (Source: P.A. 91-508, eff. 8-13-99.)

20        Section  99.  Effective date.  This Act takes effect upon
21    becoming law.

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