House Sponsors: MOFFITT-HARTKE-SAVIANO-BOST-DAVIS,STEVE. Senate Sponsors: SIEBEN-JACOBS-NOLAND-LUECHTEFELD Short description: AUCTION LICENSE ACT Synopsis of Bill as introduced: Creates the Auction License Act. Regulates auctioneers and auction firms through licensure requirements. Amends the Regulatory Sunset Act to repeal the new Act on January 1, 2010. Amends the State Finance Act to create the Auction Regulation Administration Fund, the Auction Recovery Fund, and the Auction Education Fund. If and only if House Bill 902 of the 91st General Assembly becomes law, amends the Real Estate License Act of 1999. Provides an additional item to the list of activities that makes a person a broker under the Act and provides an additional exemption to the requirement for licensure under the Act. Effective January 1, 2000, except that provisions regarding the Auction Regulation Administration Fund and the Director of Auction Regulation are effective July 1, 1999. HOUSE AMENDMENT NO. 1. Corrects a typographical error in the bill. HOUSE AMENDMENT NO. 3. Provides that the auctioneer must be performing auction-related activities for another for this Act to apply. Exempts a vehicle dealer licensed by the Secretary of State of Illinois, or any employee of the licensee while the employee is acting in the regular scope of his or her employment for the licensee, or sales by or through the licensee from the application of the Act. SENATE AMENDMENT NO. 1. Provides an exemption from licensure in the case of an auction conducted by a business registered as a market agency under the federal Packers and Stockyards Act or under the Livestock Auction Market Law. Includes the sale or lease of property via mail, telecommunications, or the Internet in the definition of "auction". Exempts persons under age 18 who are selling property under $250 in value while under the direct supervision of a licensed auctioneer from the Act. Provides that auction contracts may be written or oral. Last action on Bill: PUBLIC ACT.............................. 91-0603 Last action date: 99-08-16 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 2 SENATE - 1 END OF INQUIRY Full Text Bill Status