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IL HB5709
Bill
Status
8/15/2014
Primary Sponsor
Anthony DeLuca
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AI Summary
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Amends the Real Estate Appraiser Licensing Act of 2002 to expand exemptions for preparing valuation waivers under federal relocation assistance programs to include municipal employees and municipal engineers in addition to Illinois Department of Transportation employees.
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Allows municipal employees with 45 hours of real estate appraisal coursework and either 2 years of related experience or 20 additional hours of coursework to prepare valuation waivers up to $10,000 without a real estate appraiser license.
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Allows municipal engineers who are registered professional engineers and have completed Federal Highway Administration-approved coursework to prepare valuation waivers up to $10,000 without a real estate appraiser license.
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Requires valuation waivers prepared by municipal employees to be co-signed by a county or municipal engineer who is a registered professional engineer and must include the engineer's license number.
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Maintains existing restrictions that valuation waivers cannot exceed $10,000 and must comply with federal Uniform Relocation Assistance and Real Property Acquisition Policies Act requirements.
Legislative Description
REAL ESTATE -VALUATION WAIVER
Last Action
Public Act . . . . . . . . . 98-0933
8/15/2014