Synopsis As Introduced Amends the Real Estate License Act of 2000. Abolishes the Real Estate Education Advisory Council. Transfers functions of the Council to the Real Estate Administration and Disciplinary Board or the Department of Financial and Professional Regulation. Allows the Department to make continuing education requirements for licensed leasing agents without the advice of the Advisory Council and Board. Makes changes to the membership and terms of the Board. Allows the Secretary of the Department of Financial and Professional Regulation to establish temporary or permanent committees of the Board. Effective immediately.
Replaces everything after the enacting clause. Amends the Real Estate Appraiser Licensing Act of 2002. Increases the number of appointed members to the Real Estate Appraisal Administration and Disciplinary Board who shall have been actively engaged and currently licensed as State certified residential real estate appraisers for a period of not less than 5 years from 2 to 4 and that 2 of those members (rather than an additional 2 members) shall hold licenses as real estate brokers or managing brokers for at least 5 (rather than 10) years and removes other requirements. Provides that no member shall be reappointed to the Board for a term that would cause his or her cumulative service to exceed 10 years. Makes other changes. Effective immediately.