SB1821 Summary

• Repeals the Illinois Athlete Agents Act and the Land Sales Registration Act of 1999, and repeals the Real Estate Timeshare Act of 1999 effective January 1, 2020.

• Removes timeshare interests and vacation club memberships from the definition of "real estate" under the Real Estate License Act of 2000, exempting them from real estate licensing requirements.

• Adds new definitions to the Auction License Act for "interactive computer service" and "Internet auction listing service" to clarify that online auction platforms are not subject to auctioneer licensing requirements.

• Removes references to the Land Sales Registration Act and Real Estate Timeshare Act from the Real Estate License Act's disciplinary provisions and recovery fund provisions.

• Amends the Unified Code of Corrections to remove the Land Sales Registration Act from the list of acts for which certificates of relief from disabilities may be issued.

• Modifies the Ticket Sale and Resale Act to remove references to Department of Financial and Professional Regulation registration requirements for Internet auction listing services handling ticket sales.