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Rep. Robert Rita
Filed: 3/28/2016
| | 09900HB5881ham001 | | LRB099 19341 HEP 45923 a |
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| 1 | | AMENDMENT TO HOUSE BILL 5881
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| 2 | | AMENDMENT NO. ______. Amend House Bill 5881 by replacing |
| 3 | | everything after the enacting clause with the following:
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| 4 | | "Section 5. The Residential Real Property Disclosure Act is |
| 5 | | amended by adding Article 3.5 as follows:
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| 6 | | (765 ILCS 77/Art. 3.5 heading new) |
| 7 | | ARTICLE 3.5 |
| 8 | | REAL ESTATE APPRAISAL FEES
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| 9 | | (765 ILCS 77/85 new) |
| 10 | | Sec. 85. Residential real estate closing documents. In any |
| 11 | | residential real estate closing document in which real estate |
| 12 | | appraisal fees are shown, the fee paid to an appraiser shall be |
| 13 | | shown separately from the fee paid to an appraisal management |
| 14 | | company.".
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