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| | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB1561 Introduced 1/28/2025, by Rep. Charles Meier SYNOPSIS AS INTRODUCED:
| | | Amends the Real Estate Appraiser Licensing Act of 2002. Provides that any person or business that, as of January 1, 1995, was practicing as an appraiser in the State of Illinois and had a minimum of 2 years of experience practicing as an appraiser is exempt from the required licensure as a certified general real estate appraiser under the provisions regarding an application for a State certified general real estate appraiser license. Provides that, on and after July 1, 2029, no person or business organization shall be issued a certified general real estate appraiser license using the grandfather clause exemption. |
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| | A BILL FOR |
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| | HB1561 | | LRB104 06398 AAS 16434 b |
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| 1 | | AN ACT concerning regulation.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Real Estate Appraiser Licensing Act of 2002 |
| 5 | | is amended by adding Section 5-60 as follows:
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| 6 | | (225 ILCS 458/5-60 new) |
| 7 | | Sec. 5-60. Grandfather clause. |
| 8 | | (a) Any person or business that, as of January 1, 1995, was |
| 9 | | practicing as an appraiser in the State of Illinois and had a |
| 10 | | minimum of 2 years of experience practicing as an appraiser is |
| 11 | | exempt from the required licensure as a certified general real |
| 12 | | estate appraiser under Section 5-10. |
| 13 | | (b) On and after July 1, 2029, no person or business shall |
| 14 | | be issued a certified general real estate appraiser license |
| 15 | | using the exemption in subsection (a). |