Synopsis As Introduced Amends the Community Association Manager Licensing and Disciplinary Act, the Home Inspector License Act, and the Real Estate License Act of 2000. Reduces the minimum age requirement for licensure as a community association manager, supervising community association manager, home inspector, broker, or managing broker to 18 years of age (rather than 21 years of age). Makes a conforming change. Effective immediately.
Replaces everything after the enacting clause. Reinserts the provisions of the introduced bill with the following changes: Removes the changes made to the Real Estate License Act of 2000 regarding the minimum age requirement for licensure as a broker or managing broker. Effective immediately.
Fiscal Note, House Committee Amendment No. 1 (Financial & Professional Regulation)
The Illinois Department of Financial and Professional Regulation anticipates HB 5208, as amended, will produce an increase in the number of licensees between 18 years of age and the existing threshold minimum of 21 years of age in the community association manager, supervising community association manager, and home inspector categories. HB 5208, as amended, is anticipated to generate a slight uptick in revenue with no immediate need to increase headcount.
State Mandates Fiscal Note, House Committee Amendment No. 1 (Dept. of Commerce & Economic Opportunity)