Illinois General Assembly - Bill Status for SB4022

Amends the State Finance Act. Creates the Division of Real Estate General Fund. Repeals provisions creating the Real Estate Audit Fund, the Home Inspector Administration Fund, and the Community Association Manager Licensing and Disciplinary Fund. Amends the Auction License Act. Makes changes in provisions concerning requirements for an auctioneer license and application; expiration, renewal, and continuing education; fees and disposition of funds; grounds for disciplinary actions; returned checks and dishonored credit card charges; and the Auction Advisory Board. Creates provisions concerning confidentiality; citations; illegal discrimination; and no private right of action. Amends the Community Association Manager Licensing and Disciplinary Act. Makes changes in provisions concerning definitions; the Community Association Manager Licensing and Disciplinary Board; fidelity insurance and segregation of accounts; licenses, renewals, restoration, and persons in military service; and fees. Amends the Home Inspector License Act. Makes changes in provisions concerning definitions; renewal of licenses; unlicensed practice; civil penalties; and surcharges. Creates provisions concerning illegal discrimination. Amends the Real Estate License Act of 2000. Makes changes in provisions concerning definitions; requirements for license as a residential leasing agent; good moral character; offices; expiration and renewal of licenses; continuing education requirements; agency relationship disclosure; dual agency; grounds for discipline; citations; restoration of a suspended or revoked license; administrative review venue; the Real Estate Administration and Disciplinary Board; and licensing of education providers. Amends the Real Estate Appraiser Licensing Act. Makes changes in provisions concerning definitions; renewal of licenses; and the Real Estate Appraisal Administration and Disciplinary Board. Amends the Appraisal Management Company Registration Act concerning qualifications for registration, reports, and good moral character. Amends the Professional Limited Liability Company Act concerning the nature of business. Amends the Real Estate License Act of 2000 concerning broker licensure. Repeals the Real Estate Regulation Transfer Act. Makes other changes. Effective immediately, except provisions repealing provisions of the State Finance Act take effect July 1, 2023.

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