Rep. Anthony DeLuca
Filed: 4/8/2014
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1 | AMENDMENT TO HOUSE BILL 5709
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2 | AMENDMENT NO. ______. Amend House Bill 5709, AS AMENDED, by | ||||||
3 | replacing everything after the enacting clause with the | ||||||
4 | following:
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5 | "Section 5. The Real Estate Appraiser Licensing Act of 2002 | ||||||
6 | is amended by changing Section 5-5 as follows:
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7 | (225 ILCS 458/5-5)
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8 | (Section scheduled to be repealed on January 1, 2022)
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9 | Sec. 5-5. Necessity of license; use of title; exemptions.
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10 | (a) It
is unlawful for a person to (i) act, offer services, | ||||||
11 | or advertise services
as a State certified general real estate
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12 | appraiser, State certified residential real estate appraiser, | ||||||
13 | or associate real estate trainee appraiser, (ii)
develop a real | ||||||
14 | estate appraisal,
(iii)
practice as a real estate
appraiser, or | ||||||
15 | (iv)
advertise or hold himself or herself out to be a real | ||||||
16 | estate
appraiser
without a license issued under this Act. A |
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1 | person who
violates this subsection is
guilty of a Class A | ||||||
2 | misdemeanor for a first offense and a Class 4 felony for any | ||||||
3 | subsequent offense.
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4 | (a-5) It is unlawful for a person, unless registered as an | ||||||
5 | appraisal management company, to solicit clients or enter into | ||||||
6 | an appraisal engagement with clients without either a certified | ||||||
7 | residential real estate appraiser license or a certified | ||||||
8 | general real estate appraiser license issued under this Act. A | ||||||
9 | person who violates this subsection is guilty of a Class A | ||||||
10 | misdemeanor for a first offense and a Class 4 felony for any | ||||||
11 | subsequent offense. | ||||||
12 | (b) It
is unlawful for a person, other than a
person who | ||||||
13 | holds a valid license issued pursuant to this
Act as a State | ||||||
14 | certified general real estate appraiser, a
State
certified
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15 | residential real estate appraiser,
or an associate real estate | ||||||
16 | trainee appraiser to use these titles or any other title, | ||||||
17 | designation, or
abbreviation likely to create the
impression | ||||||
18 | that the person is licensed as a real estate appraiser pursuant | ||||||
19 | to
this Act. A person who
violates this subsection is guilty of | ||||||
20 | a Class A misdemeanor for a first offense and a Class 4 felony | ||||||
21 | for any subsequent offense.
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22 | (c)
The licensing requirements of this Act
do not
require a | ||||||
23 | person who holds a
valid license pursuant to the Real Estate | ||||||
24 | License Act of 2000, to be licensed
as a real estate appraiser
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25 | under this Act,
unless that person is
providing
or attempting | ||||||
26 | to provide an appraisal report, as defined in Section
1-10 of |
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1 | this Act, in connection with a federally-related transaction. | ||||||
2 | Nothing in this Act shall prohibit a person who holds a valid | ||||||
3 | license under the Real Estate License Act of 2000 from | ||||||
4 | performing a comparative market analysis or broker price | ||||||
5 | opinion for compensation, provided that the person does not | ||||||
6 | hold himself out as being a licensed real estate appraiser. | ||||||
7 | (d) Nothing in this Act shall preclude a State certified | ||||||
8 | general real estate appraiser, a State certified residential | ||||||
9 | real estate appraiser, or an associate real estate trainee | ||||||
10 | appraiser from rendering appraisals for or on behalf of a | ||||||
11 | partnership, association, corporation, firm, or group. | ||||||
12 | However, no State appraisal license or certification shall be | ||||||
13 | issued under this Act to a partnership, association, | ||||||
14 | corporation, firm, or group.
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15 | (e) This Act does not apply to a county assessor, township | ||||||
16 | assessor, multi-township assessor, county supervisor of | ||||||
17 | assessments, or any deputy or employee of any county assessor, | ||||||
18 | township assessor, multi-township assessor, or county | ||||||
19 | supervisor of assessments who is performing his or her | ||||||
20 | respective duties in accordance with the provisions of the | ||||||
21 | Property Tax Code.
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22 | (e-5) For the purposes of this Act, valuation waivers may | ||||||
23 | be prepared by a licensed appraiser notwithstanding any other | ||||||
24 | provision of this Act, and the following types of valuations | ||||||
25 | are not appraisals and may not be represented to be appraisals, | ||||||
26 | and a license is not required under this Act to
perform such |
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1 | valuations if the valuations are performed by (1) an employee | ||||||
2 | of the Illinois Department of Transportation who has completed | ||||||
3 | a minimum of 45 hours of course work in real estate appraisal, | ||||||
4 | including the principals of real estate appraisals, appraisal | ||||||
5 | of partial acquisitions, easement valuation, reviewing | ||||||
6 | appraisals in eminent domain, appraisal for federal aid highway | ||||||
7 | programs, and appraisal review for federal aid highway programs | ||||||
8 | and has at least 2 years' experience in a field closely related | ||||||
9 | to real estate ; or (2) a county engineer who is a registered | ||||||
10 | professional engineer under the Professional Engineering | ||||||
11 | Practice Act of 1989 ; (3) an employee of a municipality who has | ||||||
12 | (i) completed a minimum of 45 hours of coursework in real | ||||||
13 | estate appraisal, including the principals of real estate | ||||||
14 | appraisals, appraisal of partial acquisitions, easement | ||||||
15 | valuation, reviewing appraisals in eminent domain, appraisal | ||||||
16 | for federal aid highway programs, and appraisal review for | ||||||
17 | federal aid highway programs and (ii) has either 2 years' | ||||||
18 | experience in a field clearly related to real estate or has | ||||||
19 | completed 20 hours of additional coursework that is sufficient | ||||||
20 | for a person to complete waiver valuations as approved by the | ||||||
21 | Federal Highway Administration; or (4) a municipal engineer who | ||||||
22 | has completed coursework that is sufficient for his or her | ||||||
23 | waiver valuations to be approved by the Federal Highway | ||||||
24 | Administration and who is a registered professional engineer | ||||||
25 | under the Professional Engineering Act of 1989 , under the | ||||||
26 | following circumstances: |
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1 | (A) a valuation waiver in an amount not to exceed | ||||||
2 | $10,000 prepared pursuant to the federal Uniform | ||||||
3 | Relocation Assistance and Real Property Acquisition | ||||||
4 | Policies Act of 1970, or prepared pursuant to the federal | ||||||
5 | Uniform Relocation Assistance and Real Property | ||||||
6 | Acquisition for Federal and Federally-Assisted Programs | ||||||
7 | regulations and which is performed by (1) an employee of | ||||||
8 | the Illinois Department of Transportation and co-signed, | ||||||
9 | with a license number affixed, by another employee of the | ||||||
10 | Illinois Department of Transportation who is a registered | ||||||
11 | professional engineer under the Professional Engineering | ||||||
12 | Practice Act of 1989 or (2) an employee of a municipality | ||||||
13 | and co-signed with a license number affixed by a county or | ||||||
14 | municipal engineer who is a registered professional | ||||||
15 | engineer under the Professional Engineering Practice Act | ||||||
16 | of 1989 ; and | ||||||
17 | (B) a valuation waiver in an amount not to exceed | ||||||
18 | $10,000 prepared pursuant to the federal Uniform | ||||||
19 | Relocation Assistance and Real Property Acquisition | ||||||
20 | Policies Act of 1970, or prepared pursuant to the federal | ||||||
21 | Uniform Relocation Assistance and Real Property | ||||||
22 | Acquisition for Federal and Federally-Assisted Programs | ||||||
23 | regulations and which is performed by a county or municipal | ||||||
24 | engineer who is employed by a county or municipality and is | ||||||
25 | a registered professional engineer under the Professional | ||||||
26 | Engineering Practice Act of 1989. In addition to his or her |
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1 | signature, the county or municipal engineer shall affix his | ||||||
2 | or her license number to the valuation. | ||||||
3 | Nothing in this subsection (e-5) shall be construed to | ||||||
4 | allow the State of Illinois, a political subdivision thereof, | ||||||
5 | or any public body to acquire real estate by eminent domain in | ||||||
6 | any manner
other than provided for in the Eminent Domain Act. | ||||||
7 | (f) A State real estate appraisal certification or license | ||||||
8 | is not required under this Act for any of the following: | ||||||
9 | (1) A person, partnership, association, or corporation | ||||||
10 | that performs appraisals of property owned by that person, | ||||||
11 | partnership, association, or corporation for the sole use | ||||||
12 | of that person, partnership, association, or corporation. | ||||||
13 | (2) A court-appointed commissioner who conducts an | ||||||
14 | appraisal pursuant to a judicially ordered evaluation of | ||||||
15 | property. | ||||||
16 | However, any person who is certified or licensed under this Act | ||||||
17 | and who performs any of the activities set forth in this | ||||||
18 | subsection (f) must comply with the provisions of this Act. A | ||||||
19 | person who violates this subsection (f) is guilty of a Class A | ||||||
20 | misdemeanor for a first offense and a Class 4 felony for any | ||||||
21 | subsequent offense. | ||||||
22 | (g) This Act does not apply to an employee, officer, | ||||||
23 | director, or member of a credit or loan committee of a | ||||||
24 | financial institution or any other person engaged by a | ||||||
25 | financial institution when performing an evaluation of real | ||||||
26 | property for the sole use of the financial institution in a |
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1 | transaction for which the financial institution would not be | ||||||
2 | required to use the services of a State licensed or State | ||||||
3 | certified appraiser pursuant to federal regulations adopted | ||||||
4 | under Title XI of the federal Financial Institutions Reform, | ||||||
5 | Recovery, and Enforcement Act of 1989, nor does this Act apply | ||||||
6 | to the procurement of an automated valuation model. | ||||||
7 | "Automated valuation model" means an automated system that | ||||||
8 | is used to derive a property value through the use of publicly | ||||||
9 | available property records and various analytic methodologies | ||||||
10 | such as comparable sales prices, home characteristics, and | ||||||
11 | historical home price appreciations.
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12 | (Source: P.A. 97-602, eff. 8-26-11; 98-444, eff. 8-16-13.)".
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