Thanks to Scott W. DiBiasio, Manager, State and Industry Affairs, of the Appraisal Institute for this UPDATE on Illinois Appraisal Bill" HB 1015 Passes Unanimously.

"Thanks for the information on Illinois HB 1015 in Appraisal Scoop. It is something that we have been following very closely. I think you did a nice job summarizing the provisions of HB 1015. However, I think you missed one of the MAJOR components of the legislation…the fact that it makes appraiser licensing/certification MANDATORY in Illinois, rather than voluntary."

Previously, licensing/certification was only mandatory in connection with federally related transactions. It will now be mandatory for any appraisal service.

Here is the section from the law that makes this change.

Old law

Sec. 5-5. Necessity of license; use of title; exemptions. (a) Beginning July 1, 2002, it is unlawful for a person to act, as a real estate appraiser, to engage in the business of real estate appraisal, to develop a real estate appraisal, to practice as a real estate appraiser, or to advertise or hold himself or herself out to be a real estate appraiser in connection with a federally related transaction without a real estate appraiser license issued under this Act. A person who violates this subsection is guilty of a Class A misdemeanor.

New law

Sec. 5-5. Necessity of license; use of title; exemptions.(a) It is unlawful for a person to (i) act, offer services, or advertise services as a State certified general real estate appraiser, State certified residential real estate appraiser, or associate real estate trainee appraiser, (ii) develop a real estate appraisal,(iii) to practice as a real estate appraiser, (iv) advertise or hold himself or herself out to be a real estate appraiser, or (v) solicit clients or enter into an appraisal engagement with clients without a license issued under this Act. A person who violates this subsection is guilty of a Class A misdemeanor for a first offense and a Class 4 felony for any subsequent offense.

Scott W. DiBiasio

Manager, State and Industry Affairs

Appraisal Institute

122 C Street, NW, Suite 360

Washington, D.C. 20001

T 202-298-5593
F 202-298-5547
sdibiasio@appraisalinstitute.org
www.appraisalinstitute.org