093_HB2060

 
                                     LRB093 04929 AMC 04988 b

 1        AN ACT in relation to the regulation of professions.

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

 4        Section  5.   The  Real Estate Appraiser Licensing Act of
 5    2002 is amended by changing Section 1-5 as follows:

 6        (225 ILCS 458/1-5)
 7        (Section scheduled to be repealed on January 1, 2012)
 8        Sec.  1-5.    Legislative  intent.   The  intent  of  the
 9    General Assembly in enacting this  Act  is  to  evaluate  the
10    competency of persons engaged in the appraisal of real estate
11    in  connection  with  a  federally related transaction and to
12    license and regulate those persons for the protection of  the
13    public.   Additionally,  It is also the intent of the General
14    Assembly for this Act to be consistent with the provisions of
15    Title  XI  of  the  federal  Financial  Institutions  Reform,
16    Recovery and Enforcement Act of 1989.
17    (Source: P.A. 92-180, eff. 7-1-02.)