103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB2693
 
Introduced 1/10/2024, by Sen. Bill Cunningham
 
SYNOPSIS AS INTRODUCED:
 
225 ILCS 458/5-10
    Amends the Real Estate Appraiser Licensing Act of 2002. Provides that the Department of Financial and Professional Regulation may determine that an individual qualifies for licensure as a certified general real estate appraiser if he or she has worked as an associate real estate trainee appraiser for a specified number of years as determined by the Department. Provides that the Department may adopt rules to implement this provision.


LRB103 36083 SPS 66172 b

 
 
A BILL FOR
 
SB2693LRB103 36083 SPS 66172 b

1    AN ACT concerning regulation.
 
2    Be it enacted by the People of the State of Illinois, 
3represented in the General Assembly:
 
4    Section 5. The Real Estate Appraiser Licensing Act of 2002 
5is amended by changing Section 5-10 as follows:
 
6    (225 ILCS 458/5-10)
7    (Section scheduled to be repealed on January 1, 2027)
8    Sec. 5-10. Application for State certified general real 
9estate appraiser. 
10    (a) Every person who desires to obtain a State certified 
11general real estate appraiser license shall:
12        (1) apply to the Department on forms provided by the 
13    Department, or through a multi-state licensing system as 
14    designated by the Secretary, accompanied by the required 
15    fee;
16        (2) be at least 18 years of age;
17        (3) (blank); 
18        (4) personally take and pass an examination authorized 
19    by the Department and endorsed by the AQB;
20        (5) prior to taking the examination, provide evidence 
21    to the Department, or through a multi-state licensing 
22    system as designated by the Secretary, of successful 
23    completion of the prerequisite classroom hours of 
 
 
SB2693- 2 -LRB103 36083 SPS 66172 b

1    instruction in appraising as established by the AQB and by 
2    rule; evidence shall be in a Modular Course format with 
3    each module conforming to the Required Core Curriculum 
4    established and adopted by the AQB; and
5        (6) prior to taking the examination, provide evidence 
6    to the Department, or through a multi-state licensing 
7    system as designated by the Secretary, of successful 
8    completion of the prerequisite experience and educational 
9    requirements in appraising as established by AQB and by 
10    rule.
11    (b) Except as provided in subsection (c), applicants 
12Applicants must provide evidence to the Department, or through 
13a multi-state licensing system as designated by the Secretary, 
14of holding a Bachelor's degree or higher from an accredited 
15college or university.
16    (c) In lieu of the requirement described in subsection 
17(b), the Department may determine that an individual qualifies 
18for licensure if he or she has worked as an associate real 
19estate trainee appraiser for a specified number of years as 
20determined by the Department. The Department may adopt rules 
21to implement this subsection. 
22(Source: P.A. 102-20, eff. 1-1-22.)