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(225 ILCS 450/4)
(from Ch. 111, par. 5505)
(Section scheduled to be repealed on January 1, 2029)
(a) The provisions of this Act shall not be construed to invalidate any
certificates as certified public accountants issued by the University under
"An Act to regulate the profession of public accountants", approved May 15,
1903, as amended, or any certificates as Certified Public Accountants
issued by the University or the Board under Section 4 of "An Act to regulate the
practice of public accounting and to repeal certain acts therein named",
approved July 22, 1943, as amended, which certificates shall be valid and
in force as though issued under the provisions of this Act.
(b) Before July 1, 2012, persons who have received a Certified Public Accountant (CPA) Certificate issued by the Board or University or holding similar certifications from other jurisdictions with equivalent educational requirements and examination standards may apply to the Department on forms supplied by the Department for and may be granted a registration as a registered CPA from the Department upon payment of the required fee.
(c) Beginning with the 2006 renewal, the Department shall cease to issue a license as a Public Accountant. Any person holding a valid license as a Public Accountant prior to September 30, 2006 who meets the conditions for renewal of a license under this Act, shall be issued a license as a licensed CPA under this Act and shall be subject to continued regulation by the Department under this Act. The Department may adopt rules to implement this Section.
(d) The Department shall not issue any new registrations as a registered CPA on or after July 1, 2012. After that date, any applicant for licensure under this Act shall apply for a license as a licensed CPA and shall meet the requirements set forth in this Act. Any person who has been issued a registration as a registered CPA may renew the registration under the provisions of this Act and that person may continue to renew or restore the registration during the registrant's lifetime, subject only to the renewal or restoration requirements for the registration under this Act. Such registration shall be subject to the disciplinary provisions of this Act.
(f) The changes made by this amendatory Act of the 102nd General Assembly do not invalidate any certificate issued before the effective date of this amendatory Act of the 102nd General Assembly.
(Source: P.A. 102-222, eff. 1-1-22; 103-309, eff. 1-1-24