IL SB3399

Amends continuing education requirements for auctioneers, home inspectors, and real estate appraisers to establish specific completion deadlines set by the Department, rather than just requiring completion before license expiration.

Modifies Real Estate License Act definitions and ownership restrictions to clarify requirements for corporations, partnerships, and limited liability companies engaging in brokerage activities, including provisions requiring nonparticipating owners to submit affidavits.

Removes requirement for branch office licenses and instead requires sponsoring brokers to notify the Department on prescribed forms when maintaining multiple offices within the state.

Updates terminology throughout the Real Estate License Act to include "foreign or domestic" and "business entity" language, replacing outdated corporate structure references.

Takes effect January 1, 2019, with various sections scheduled for repeal on January 1, 2020 and January 1, 2022.