House Sponsors: ZICKUS-SAVIANO-DAVIS,STEVE-WOJCIK-LINDNER. Senate Sponsors: NOLAND-DELEO Short description: REAL ESTATE-AUDIT FUND Synopsis of Bill as introduced: Amends the Real Estate License Act of 2000 and the State Finance Act. Creates the Real Estate Audit Fund. Provides for the audit of special accounts of moneys belonging to others held by a broker and for an audit of the Real Estate Audit Fund upon the completion of any audit of the Office of Banks and Real Estate. Provides that money in the Real Estate Audit Fund may be invested in the same manner as funds in the Real Estate Recovery Fund. Effective immediately. HOUSE AMENDMENT NO. 1. Adds reference to: 225 ILCS 454/1-10 225 ILCS 454/5-20 225 ILCS 454/10-10 225 ILCS 454/20-60 225 ILCS 454/25-14 new 225 ILCS 454/20-70 rep. Changes the definition of "broker". Exempts hotel operators from the broker, salesperson, or leasing agent license requirement. Repeals a Section concerning the restoration of a license. Provides that the Office of Banks and Real Estate may restore a temporarily suspended license upon written recommendation of the Board. Last action on Bill: PUBLIC ACT.............................. 92-0217 Last action date: AUG-02-2001 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0 END OF INQUIRY Full Text Bill Status