Rep. Robert Rita

Filed: 4/16/2013

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 2720

2    AMENDMENT NO. ______. Amend House Bill 2720 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Real Estate Appraiser Licensing Act of 2002
5is amended by changing Section 5-5 as follows:
 
6    (225 ILCS 458/5-5)
7    (Section scheduled to be repealed on January 1, 2022)
8    Sec. 5-5. Necessity of license; use of title; exemptions.
9    (a) It is unlawful for a person to (i) act, offer services,
10or advertise services as a State certified general real estate
11appraiser, State certified residential real estate appraiser,
12or associate real estate trainee appraiser, (ii) develop a real
13estate appraisal, (iii) practice as a real estate appraiser, or
14(iv) advertise or hold himself or herself out to be a real
15estate appraiser without a license issued under this Act. A
16person who violates this subsection is guilty of a Class A

 

 

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1misdemeanor for a first offense and a Class 4 felony for any
2subsequent offense.
3    (a-5) It is unlawful for a person, unless registered as an
4appraisal management company, to solicit clients or enter into
5an appraisal engagement with clients without either a certified
6residential real estate appraiser license or a certified
7general real estate appraiser license issued under this Act. A
8person who violates this subsection is guilty of a Class A
9misdemeanor for a first offense and a Class 4 felony for any
10subsequent offense.
11    (b) It is unlawful for a person, other than a person who
12holds a valid license issued pursuant to this Act as a State
13certified general real estate appraiser, a State certified
14residential real estate appraiser, or an associate real estate
15trainee appraiser to use these titles or any other title,
16designation, or abbreviation likely to create the impression
17that the person is licensed as a real estate appraiser pursuant
18to this Act. A person who violates this subsection is guilty of
19a Class A misdemeanor for a first offense and a Class 4 felony
20for any subsequent offense.
21    (c) The licensing requirements of this Act do not require a
22person who holds a valid license pursuant to the Real Estate
23License Act of 2000, to be licensed as a real estate appraiser
24under this Act, unless that person is providing or attempting
25to provide an appraisal report, as defined in Section 1-10 of
26this Act, in connection with a federally-related transaction.

 

 

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1Nothing in this Act shall prohibit a person who holds a valid
2license under the Real Estate License Act of 2000 from
3performing a comparative market analysis or broker price
4opinion for compensation, provided that the person does not
5hold himself out as being a licensed real estate appraiser.
6    (d) Nothing in this Act shall preclude a State certified
7general real estate appraiser, a State certified residential
8real estate appraiser, or an associate real estate trainee
9appraiser from rendering appraisals for or on behalf of a
10partnership, association, corporation, firm, or group.
11However, no State appraisal license or certification shall be
12issued under this Act to a partnership, association,
13corporation, firm, or group.
14    (e) This Act does not apply to a county assessor, township
15assessor, multi-township assessor, county supervisor of
16assessments, or any deputy or employee of any county assessor,
17township assessor, multi-township assessor, or county
18supervisor of assessments who is performing his or her
19respective duties in accordance with the provisions of the
20Property Tax Code.
21    (e-5) For the purposes of this Act, the following types of
22valuations are not appraisals and may not be represented to be
23appraisals, valuation waivers may be prepared by a licensed
24appraiser notwithstanding any other provision of this Act and a
25license is not required under this Act to perform such
26valuations if the valuations are performed by an employee of

 

 

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1the Illinois Department of Transportation or an employee of a
2county under the following circumstances:
3        (1) if performed by an employee of the Illinois
4    Department of Transportation, a valuation waiver in an
5    amount not to exceed $10,000, performed by a licensed
6    professional engineer under the Professional Engineering
7    Practice Act of 1989 or co-signed by a State certified
8    general appraiser, and prepared under the federal Uniform
9    Relocation Assistance and Real Property Acquisition
10    Policies Act of 1970;
11        (2) if performed by an employee of the Illinois
12    Department of Transportation, a valuation waiver in an
13    amount not to exceed $10,000, performed by a licensed
14    professional engineer under the Professional Engineering
15    Practice Act of 1989 or co-signed by a State certified
16    general appraiser, and prepared under the federal Uniform
17    Relocation Assistance and Real Property Acquisition for
18    Federal and Federally-Assisted Programs regulations;
19        (3) if performed by a county engineer employed by a
20    county who is a licensed professional engineer under the
21    Professional Engineering Practice Act of 1989, a valuation
22    waiver in an amount not to exceed $10,000 prepared under
23    the federal Uniform Relocation Assistance and Real
24    Property Acquisition Policies Act of 1970;
25        (4) if performed by a county engineer employed by a
26    county who is a licensed professional engineer under the

 

 

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1    Professional Engineering Practice Act of 1989, a valuation
2    waiver in an amount not to exceed $10,000 prepared under
3    the federal Uniform Relocation Assistance and Real
4    Property Acquisition for Federal and Federally-Assisted
5    Programs regulations;
6        (5) a valuation waiver in an amount not to exceed
7    $10,000 and limited to the valuation of a temporary
8    easement prepared under the federal Uniform Relocation
9    Assistance and Real Property Acquisition Policies Act of
10    1970; or
11        (6) a valuation waiver in an amount not to exceed
12    $10,000 and limited to the valuation of a temporary
13    easement prepared under the federal Uniform Relocation
14    Assistance and Real Property Acquisition for Federal and
15    Federally-Assisted Programs regulations.
16        (1) a valuation waiver in an amount not to exceed
17    $10,000 prepared pursuant to the federal Uniform
18    Relocation Assistance and Real Property Acquisition
19    Policies Act of 1970, as amended; or
20        (2) a valuation waiver in an amount not to exceed
21    $10,000 prepared pursuant to the federal Uniform
22    Relocation Assistance and Real Property Acquisition for
23    Federal and Federally-Assisted Programs regulations.
24    Nothing in this subsection (e-5) shall be construed to
25allow the State of Illinois, a political subdivision thereof,
26or any public body to acquire real estate by eminent domain in

 

 

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1any manner other than provided for in the Eminent Domain Act.
2    (f) A State real estate appraisal certification or license
3is not required under this Act for any of the following:
4        (1) A person, partnership, association, or corporation
5    that performs appraisals of property owned by that person,
6    partnership, association, or corporation for the sole use
7    of that person, partnership, association, or corporation.
8        (2) A court-appointed commissioner who conducts an
9    appraisal pursuant to a judicially ordered evaluation of
10    property.
11However, any person who is certified or licensed under this Act
12and who performs any of the activities set forth in this
13subsection (f) must comply with the provisions of this Act. A
14person who violates this subsection (f) is guilty of a Class A
15misdemeanor for a first offense and a Class 4 felony for any
16subsequent offense.
17    (g) This Act does not apply to an employee, officer,
18director, or member of a credit or loan committee of a
19financial institution or any other person engaged by a
20financial institution when performing an evaluation of real
21property for the sole use of the financial institution in a
22transaction for which the financial institution would not be
23required to use the services of a State licensed or State
24certified appraiser pursuant to federal regulations adopted
25under Title XI of the federal Financial Institutions Reform,
26Recovery, and Enforcement Act of 1989, nor does this Act apply

 

 

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1to the procurement of an automated valuation model.
2    "Automated valuation model" means an automated system that
3is used to derive a property value through the use of publicly
4available property records and various analytic methodologies
5such as comparable sales prices, home characteristics, and
6historical home price appreciations.
7(Source: P.A. 96-844, eff. 12-23-09; 97-602, eff. 8-26-11.)
 
8    Section 99. Effective date. This Act takes effect upon
9becoming law.".