Illinois General Assembly - Bill Status for SB3740
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 Bill Status of SB3740  103rd General Assembly


Short Description:  REAL ESTATE LICENSING-VARIOUS

Senate Sponsors
Sen. Javier L. Cervantes and Laura M. Murphy

House Sponsors
(Rep. Jenn Ladisch Douglass)

Last Action
DateChamber Action
  4/15/2024HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
30 ILCS 105/5.1015 new
225 ILCS 454/1-10
225 ILCS 454/5-20
225 ILCS 454/5-25
225 ILCS 454/5-28
225 ILCS 454/5-35
225 ILCS 454/5-45
225 ILCS 454/5-60
225 ILCS 454/5-60.1 new
225 ILCS 454/5-60.5 new
225 ILCS 454/5-70
225 ILCS 454/10-10
225 ILCS 454/10-20
225 ILCS 454/15-35
225 ILCS 454/15-50
225 ILCS 454/20-20
225 ILCS 454/20-20.1
225 ILCS 454/20-50
225 ILCS 454/20-82
225 ILCS 454/25-25
225 ILCS 454/25-30
225 ILCS 454/25-35
225 ILCS 454/30-5
225 ILCS 454/30-15
225 ILCS 454/30-25


Synopsis As Introduced
Amends the Real Estate License Act of 2000. Provides that for licensure as a managing broker, the person must personally take and pass a written examination on Illinois specific real estate brokerage laws authorized by the Department of Financial and Professional Regulation. Provides that approved pre-license education for licensure as a managing broker, broker, or residential leasing agent shall be valid for 2 years after the date of satisfactory completion of all required pre-license education. Provides that a nonresident broker who meets certain requirements may also operate a virtual office in the State. On January 1, 2026, repeals a provision concerning reciprocity for managing brokers and brokers licensed in another state. Provides that on and after January 1, 2026, applications for licensure based upon reciprocal agreements shall not be accepted. Provides that licenses granted under reciprocal agreements prior to January 1, 2026 shall remain in force and may be renewed in the same manner as provided for a broker or managing broker license under the Act. Requires fair housing training as part of the continuing education requirements. Sets forth provisions concerning licensure of managing brokers and brokers licensed under the laws of another state or jurisdiction of the United States and authorizing virtual offices. Makes changes in provisions concerning definitions; exemptions from licensure; continuing education; disclosure of compensation; employment agreements; agency relationship disclosure; grounds for discipline; citations; illegal discrimination; fines and penalties; a scholarship program; funds; and licensing of education provider instructors. Makes a conforming change in the State Finance Act. Effective January 1, 2025, except that certain provisions are effective immediately.

Actions 
DateChamber Action
  2/9/2024SenateFiled with Secretary by Sen. Javier L. Cervantes
  2/9/2024SenateFirst Reading
  2/9/2024SenateReferred to Assignments
  2/28/2024SenateAssigned to Licensed Activities
  3/7/2024SenateDo Pass Licensed Activities; 008-000-000
  3/7/2024SenatePlaced on Calendar Order of 2nd Reading March 12, 2024
  3/14/2024SenateSecond Reading
  3/14/2024SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
  4/10/2024SenatePlaced on Calendar Order of 3rd Reading **
  4/10/2024SenateAdded as Co-Sponsor Sen. Laura M. Murphy
  4/12/2024SenateThird Reading - Passed; 059-000-000
  4/12/2024HouseArrived in House
  4/12/2024HouseChief House Sponsor Rep. Jenn Ladisch Douglass
  4/15/2024HouseFirst Reading
  4/15/2024HouseReferred to Rules Committee

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