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92_SB2168
LRB9216121ACfg
1 AN ACT regarding real estate.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 1. Short title. This Act may be cited as
5 Residential Real Estate Advertisement Act.
6 Section 10. Definitions. For the purposes of this Act:
7 "Appraiser" means a person licensed under the Real Estate
8 Appraiser Licensing Act.
9 "Builder" means a person who builds a residential
10 building.
11 "Realtor" means a person licensed under the Real Estate
12 License Act of 1983.
13 Section 15. Advertising residential property; national
14 standards. When a builder, appraiser, or realtor advertises
15 a residential property that he or she is building,
16 appraising, selling, or leasing, the builder, appraiser, or
17 realtor must comply with the National Association of Home
18 Builders and the American National Standards Institute's
19 standards for determining square footage of a residence.
20 Section 20. Civil penalties. Any person who violates
21 any provision of this Act shall be subject to a civil penalty
22 of $1,000 per violation. The funds collected pursuant to
23 this Act shall be deposited into the General Revenue Fund.