HB 3495

Abstract

Amends the Real Estate Appraiser Licensing Act of 2002. Changes the short title to the Illinois Real Estate Appraisers Act (and amends the Regulatory Sunset Act to reflect the change in the short title). Changes and repeals the provisions of, and adds provisions to, the Real Estate Appraiser Licensing Act of 2002 as follows: creates the Illinois Appraisal Board as an entity with 9 members appointed by the Governor, sets forth its powers and duties, and provides that the Board shall appoint a non-voting Executive Director with specified qualifications, powers, and duties; requires real estate appraisers to obtain a registration, license, or certificate issued by the Board, with specified exceptions; prohibits the use of certain designations unless the person is registered, licensed, or certified by the Board; provides for the scope of practice of appraisers in federally related transactions; requires appraisers to comply with standards of professional appraisal practice adopted by the Board; sets forth application, pre-license and continuing education, and examination requirements and qualifications for an associate real estate appraiser, a State certified residential real estate appraiser, and a State certified General real estate appraiser and provides for renewals; provides for temporary practice permits for nonresident appraisers; provides for fees, retention of records, approval of education programs and courses and education providers; provides that the Board may adopt rules; provides that the Board shall appoint an Executive Director with specified qualifications, powers, and duties; provides that the Board may take disciplinary action and suspend or revoke any registration, license, or certificate or reprimand any registered associate appraiser or certificate holder under specified circumstances; provides for surrender of a registration, license, or certificate; provides for investigations and disposition of complaints; provides that records of the Board concerning a complaint or investigation are not public records, but a statement of charges contained within a notice of a hearing to be held by the Board is a public record, and records admitted into evidence in a hearing held by the Board, and any final decisions and orders by the Board, including consent orders, are public records; provides for inspection of records, penalties for violation of the Act, and injunctions; provides that a court may refer a matter to the Board if an appraiser is adjudged to have caused injury or damage through gross negligence, incompetence, fraud, dishonesty, or other civil or criminal misconduct; repeals various provisions of the Act; and makes other changes.