IL HB4452

Amends the Real Estate License Act of 2000 to require new brokers to complete 45 hours of post-license education (three 15-hour courses covering applied brokerage principles, risk management/discipline, and transactional issues) before their first license renewal

Transfers the remaining balance from the Real Estate Audit Fund to the Real Estate License Administration Fund on January 1, 2021, and repeals the Real Estate Audit Fund and the Real Estate Regulation Transfer Act

Prohibits licensees from serving as dual agents in transactions where the licensee or an entity in which the licensee has an interest is a party to the transaction

Prevents license renewal for licensees with unpaid fines from disciplinary matters or unpaid fees from non-disciplinary actions until payment is made or a payment plan is established

Modifies Real Estate Administration and Disciplinary Board member terms to continue until a successor is appointed, and requires the Board to annually elect a vice chairperson to preside at meetings when the chairperson is absent