HB4368 93RD GENERAL ASSEMBLY

LRB093 18185 LCB 43880 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB4368

Introduced 02/03/04, by Ralph C. Capparelli

SYNOPSIS AS INTRODUCED:

225 ILCS 458/1-5

Amends the Real Estate Appraiser Licensing Act of 2002. Makes a technical change in a Section concerning legislative intent.

A BILL FOR

AN ACT in relation to the regulation of professions.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Real Estate Appraiser Licensing Act of 2002 is amended by changing Section 1-5 as follows:

(225 ILCS 458/1-5)

(Section scheduled to be repealed on January 1, 2012)

Sec. 1-5. Legislative intent. The intent of the General Assembly in enacting this Act is to evaluate the competency of persons engaged in the appraisal of real estate in connection with a federally related transaction and to license and regulate those persons for the protection of the public. Additionally, It is also the intent of the General Assembly for this Act to be consistent with the provisions of Title XI of the federal Financial Institutions Reform, Recovery and Enforcement Act of 1989.

(Source: P.A. 92-180, eff. 7-1-02.)