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91_HB4280eng HB4280 Engrossed LRB9111059ACmg 1 AN ACT to amend the Illinois Public Accounting Act. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Public Accounting Act is amended 5 by changing Sections 5 and 14.2 as follows: 6 (225 ILCS 450/5) (from Ch. 111, par. 5506) 7 Sec. 5. Certification of out-of-State accountants. 8 (a) The Board may issue a certificate as a certified 9 public accountant, without examination, to any applicant who 10 holds a valid unrevoked certificate as a certified public 11 accountant issued under the laws of any other state or 12 territory of the United States or the District of Columbia, 13 provided: 14 (1) that the state that issued the certificate has 15 certification requirements that have been determined by 16 the Board to be substantially equivalent to the 17 certification requirements of Illinois and grants similar 18 rights to those that Illinois grants to certificate 19 holders; 20 (2) that the state that issued the certificate has 21 certification requirements that the BoardDepartmenthas 22 determined not to be substantially equivalent to the 23 certification requirements of Illinois or does not grant 24 similar rights to Illinois certificate holders, but the 25 Board determines that the individual applicant possesses 26 personal qualifications substantially equivalent to 27 Illinois' certification requirements; or 28 (3) that the applicant does not qualify under 29 subsections (1) or (2) above, but the following 30 conditions are met: 31 (A) the certificate was granted to the HB4280 Engrossed -2- LRB9111059ACmg 1 applicant on the basis of the Uniform Certified 2 Public Accountant examination; and 3 (B) the educational qualifications of the 4 applicant for a certificate, at the time of the 5 written examination, were equivalent to the 6 educational qualifications then required of 7 applicants for admission to the Illinois examination 8 for certified public accountant or, the applicant 9 has, after passing the examination upon which his or 10 her certificate was based, not less than 5 years of 11 experience in the practice of public accounting 12 within the 10 years immediately preceding this 13 application, otherwise reasonably considered 14 acceptable by the Board. 15 (b) In determining the substantial equivalency of the 16 requirements for certification or the rights granted to 17 certificate holders pursuant to this Section, the Board may 18 rely on the determinations of the National Qualification 19 Appraisal Service of the National Association of State Boards 20 of Accountancy or any other qualification appraisal service, 21 as it deems appropriate. 22 (Source: P.A. 91-508, eff. 8-13-99.) 23 (225 ILCS 450/14.2) 24 Sec. 14.2. Licensure by endorsement. 25 (a) The Department shall issue a license as a public 26 accountant to any applicant who holds a certificate as a 27 certified public accountant issued by the Board and who holds 28 a valid unrevoked license or permit to practice as a public 29 accountant issued under the laws of any other state or 30 territory of the United States or the District of Columbia, 31 provided: 32 (1) the individual applicant is determined by the 33 Department to possess personal qualifications HB4280 Engrossed -3- LRB9111059ACmg 1 substantially equivalent to this State's current 2 licensing requirements; 3 (2) at the time the applicant received his or her 4 current valid and unrevoked license or permit, the 5 applicant possessed qualifications substantially 6 equivalent to the qualifications for licensure then in 7 effect in this State; or 8 (3) the applicant has, after passing the 9 examination upon which his or her license or other permit 10 to practice was based, not less than 4 years of 11 experience in the practice of public accounting within 12 the 10 years immediately before the application. 13 (b) In determining the substantial equivalency of any 14 state's requirements to Illinois' requirements, the 15 Department may rely on the determinations of the National 16 Qualification Appraisal Service of the National Association 17 of State Boards of Accountancy or such other qualification 18 appraisal service as it deems appropriate. 19 (Source: P.A. 91-508, eff. 8-13-99.) 20 Section 99. Effective date. This Act takes effect upon 21 becoming law.