HB5931 98TH GENERAL ASSEMBLY

LRB098 20319 ZMM 55762 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB5931

Introduced , by Rep. Robert Rita

SYNOPSIS AS INTRODUCED:

225 ILCS 458/1-5

Amends the Real Estate Appraiser Licensing Act of 2002. Makes a technical change in a Section concerning legislative intent.

A BILL FOR

AN ACT concerning regulation.

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

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

(225 ILCS 458/1-5)

(Section scheduled to be repealed on January 1, 2022)

Sec. 1-5. Legislative intent. The The intent of the General Assembly in enacting this Act is to evaluate the competency of persons engaged in the appraisal of real estate in connection with a federally related transaction and to license and regulate those persons for the protection of the public. Additionally, it is the intent of the General Assembly for this Act to be consistent with the provisions of Title XI of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989.

(Source: P.A. 92-180, eff. 7-1-02.)