Illinois General Assembly - Bill Status for HB4707
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 Bill Status of HB4707  9th General Assembly

Short Description:  CPA - LICENSING

House Sponsors
Rep. Robert Rita - David Harris - Patricia R. Bellock and Natalie A. Manley

Senate Sponsors
(Sen. Iris Y. Martinez - John J. Cullerton)

Last Action
DateChamber Action
  7/16/2014HousePublic Act . . . . . . . . . 98-0730

Statutes Amended In Order of Appearance
225 ILCS 450/8.05
225 ILCS 450/14.2
225 ILCS 450/14.4
225 ILCS 450/16from Ch. 111, par. 5517
225 ILCS 450/17.1from Ch. 111, par. 5518.1


Synopsis As Introduced
Amends the Illinois Public Accounting Act. Provides that any individual who is the holder of a current and valid license as a certified public accountant of any state who has properly applied to the Department of Financial and Professional Regulation for licensure by endorsement may perform accountancy activities until the expiration of 6 months after the filing of the application or until the denial of the application by the Department, whichever occurs earlier. Provides that any licensed CPA who is a sole practitioner and who has permitted his or her license to expire or become inactive is required to complete the peer review process established under the Act in order to have his or her license restored by the Department. Further provides that any firm that has permitted its license to expire may have its license restored by making application to the Department, filing proof acceptable to the Department of its fitness for licensure, paying the required restoration fee, and completing the peer review process.

House Committee Amendment No. 1
Provides that any individual who is the holder of a current, valid, and not previously disciplined license (rather than a current and valid license) as a certified public accountant of any state who has applied in writing to the Department of Financial and Professional Regulation for a CPA license may perform accountancy activities until the earlier of the expiration of 6 months after filing the written application or the denial of the application by the Department. Further provides that any such individual performing accountancy activities shall be subject to discipline in the same manner as an individual licensed under the Act.

Actions 
DateChamber Action
  2/5/2014HouseFiled with the Clerk by Rep. Robert Rita
  2/5/2014HouseFirst Reading
  2/5/2014HouseReferred to Rules Committee
  2/7/2014HouseAdded Co-Sponsor Rep. Natalie A. Manley
  3/3/2014HouseAssigned to Business & Occupational Licenses Committee
  3/4/2014HouseHouse Committee Amendment No. 1 Filed with Clerk by Rep. Robert Rita
  3/4/2014HouseHouse Committee Amendment No. 1 Referred to Rules Committee
  3/13/2014HouseHouse Committee Amendment No. 1 Rules Refers to Business & Occupational Licenses Committee
  3/20/2014HouseHouse Committee Amendment No. 1 Adopted in Business & Occupational Licenses Committee; by Voice Vote
  3/20/2014HouseDo Pass as Amended / Short Debate Business & Occupational Licenses Committee; 010-000-000
  3/21/2014HousePlaced on Calendar 2nd Reading - Short Debate
  3/24/2014HouseSecond Reading - Short Debate
  3/24/2014HousePlaced on Calendar Order of 3rd Reading - Short Debate
  4/2/2014HouseThird Reading - Short Debate - Passed 112-000-000
  4/2/2014HouseAdded Chief Co-Sponsor Rep. David Harris
  4/2/2014HouseAdded Chief Co-Sponsor Rep. Patricia R. Bellock
  4/2/2014SenateArrive in Senate
  4/2/2014SenatePlaced on Calendar Order of First Reading April 3, 2014
  4/4/2014SenateChief Senate Sponsor Sen. John J. Cullerton
  4/7/2014SenateFirst Reading
  4/7/2014SenateReferred to Assignments
  4/7/2014SenateAlternate Chief Sponsor Changed to Sen. Iris Y. Martinez
  4/7/2014SenateAdded as Alternate Chief Co-Sponsor Sen. John J. Cullerton
  4/23/2014SenateAssigned to Licensed Activities and Pensions
  5/1/2014SenateDo Pass Licensed Activities and Pensions; 009-000-000
  5/1/2014SenatePlaced on Calendar Order of 2nd Reading May 6, 2014
  5/7/2014SenateSecond Reading
  5/7/2014SenatePlaced on Calendar Order of 3rd Reading May 8, 2014
  5/21/2014SenateThird Reading - Passed; 057-001-000
  5/21/2014HousePassed Both Houses
  6/19/2014HouseSent to the Governor
  7/16/2014HouseGovernor Approved
  7/16/2014HouseEffective Date January 1, 2015
  7/16/2014HousePublic Act . . . . . . . . . 98-0730

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