Rep. Anthony DeLuca

Filed: 4/8/2014

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 5709

2    AMENDMENT NO. ______. Amend House Bill 5709, AS AMENDED, by
3replacing everything after the enacting clause with the
4following:
 
5    "Section 5. The Real Estate Appraiser Licensing Act of 2002
6is amended by changing Section 5-5 as follows:
 
7    (225 ILCS 458/5-5)
8    (Section scheduled to be repealed on January 1, 2022)
9    Sec. 5-5. Necessity of license; use of title; exemptions.
10    (a) It is unlawful for a person to (i) act, offer services,
11or advertise services as a State certified general real estate
12appraiser, State certified residential real estate appraiser,
13or associate real estate trainee appraiser, (ii) develop a real
14estate appraisal, (iii) practice as a real estate appraiser, or
15(iv) advertise or hold himself or herself out to be a real
16estate appraiser without a license issued under this Act. A

 

 

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1person who violates this subsection is guilty of a Class A
2misdemeanor for a first offense and a Class 4 felony for any
3subsequent offense.
4    (a-5) It is unlawful for a person, unless registered as an
5appraisal management company, to solicit clients or enter into
6an appraisal engagement with clients without either a certified
7residential real estate appraiser license or a certified
8general real estate appraiser license issued under this Act. A
9person who violates this subsection is guilty of a Class A
10misdemeanor for a first offense and a Class 4 felony for any
11subsequent offense.
12    (b) It is unlawful for a person, other than a person who
13holds a valid license issued pursuant to this Act as a State
14certified general real estate appraiser, a State certified
15residential real estate appraiser, or an associate real estate
16trainee appraiser to use these titles or any other title,
17designation, or abbreviation likely to create the impression
18that the person is licensed as a real estate appraiser pursuant
19to this Act. A person who violates this subsection is guilty of
20a Class A misdemeanor for a first offense and a Class 4 felony
21for any subsequent offense.
22    (c) The licensing requirements of this Act do not require a
23person who holds a valid license pursuant to the Real Estate
24License Act of 2000, to be licensed as a real estate appraiser
25under this Act, unless that person is providing or attempting
26to provide an appraisal report, as defined in Section 1-10 of

 

 

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1this Act, in connection with a federally-related transaction.
2Nothing in this Act shall prohibit a person who holds a valid
3license under the Real Estate License Act of 2000 from
4performing a comparative market analysis or broker price
5opinion for compensation, provided that the person does not
6hold himself out as being a licensed real estate appraiser.
7    (d) Nothing in this Act shall preclude a State certified
8general real estate appraiser, a State certified residential
9real estate appraiser, or an associate real estate trainee
10appraiser from rendering appraisals for or on behalf of a
11partnership, association, corporation, firm, or group.
12However, no State appraisal license or certification shall be
13issued under this Act to a partnership, association,
14corporation, firm, or group.
15    (e) This Act does not apply to a county assessor, township
16assessor, multi-township assessor, county supervisor of
17assessments, or any deputy or employee of any county assessor,
18township assessor, multi-township assessor, or county
19supervisor of assessments who is performing his or her
20respective duties in accordance with the provisions of the
21Property Tax Code.
22    (e-5) For the purposes of this Act, valuation waivers may
23be prepared by a licensed appraiser notwithstanding any other
24provision of this Act, and the following types of valuations
25are not appraisals and may not be represented to be appraisals,
26and a license is not required under this Act to perform such

 

 

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1valuations if the valuations are performed by (1) an employee
2of the Illinois Department of Transportation who has completed
3a minimum of 45 hours of course work in real estate appraisal,
4including the principals of real estate appraisals, appraisal
5of partial acquisitions, easement valuation, reviewing
6appraisals in eminent domain, appraisal for federal aid highway
7programs, and appraisal review for federal aid highway programs
8and has at least 2 years' experience in a field closely related
9to real estate; or (2) a county engineer who is a registered
10professional engineer under the Professional Engineering
11Practice Act of 1989; (3) an employee of a municipality who has
12(i) completed a minimum of 45 hours of coursework in real
13estate appraisal, including the principals of real estate
14appraisals, appraisal of partial acquisitions, easement
15valuation, reviewing appraisals in eminent domain, appraisal
16for federal aid highway programs, and appraisal review for
17federal aid highway programs and (ii) has either 2 years'
18experience in a field clearly related to real estate or has
19completed 20 hours of additional coursework that is sufficient
20for a person to complete waiver valuations as approved by the
21Federal Highway Administration; or (4) a municipal engineer who
22has completed coursework that is sufficient for his or her
23waiver valuations to be approved by the Federal Highway
24Administration and who is a registered professional engineer
25under the Professional Engineering Act of 1989, under the
26following 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
4allow the State of Illinois, a political subdivision thereof,
5or any public body to acquire real estate by eminent domain in
6any manner other than provided for in the Eminent Domain Act.
7    (f) A State real estate appraisal certification or license
8is 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.
16However, any person who is certified or licensed under this Act
17and who performs any of the activities set forth in this
18subsection (f) must comply with the provisions of this Act. A
19person who violates this subsection (f) is guilty of a Class A
20misdemeanor for a first offense and a Class 4 felony for any
21subsequent offense.
22    (g) This Act does not apply to an employee, officer,
23director, or member of a credit or loan committee of a
24financial institution or any other person engaged by a
25financial institution when performing an evaluation of real
26property for the sole use of the financial institution in a

 

 

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1transaction for which the financial institution would not be
2required to use the services of a State licensed or State
3certified appraiser pursuant to federal regulations adopted
4under Title XI of the federal Financial Institutions Reform,
5Recovery, and Enforcement Act of 1989, nor does this Act apply
6to the procurement of an automated valuation model.
7    "Automated valuation model" means an automated system that
8is used to derive a property value through the use of publicly
9available property records and various analytic methodologies
10such as comparable sales prices, home characteristics, and
11historical home price appreciations.
12(Source: P.A. 97-602, eff. 8-26-11; 98-444, eff. 8-16-13.)".