IL SB1723

Reduces educational requirements for CPA exam eligibility from 150 to 120 semester credit hours beginning January 1, 2023, while maintaining the 150-hour requirement for full certification after passing the exam

Replaces the term "certificate" with "certification" throughout the Illinois Public Accounting Act and creates a new "exam certificate" definition for individuals who have passed all sections of the Uniform CPA Examination

Requires the Board of Examiners to verify completion of 150 credit hours as part of the certification process, separating exam eligibility from final certification requirements

Clarifies that certification, exam certificates, and registration as a CPA do not confer the right to practice public accounting or use the CPA title until the individual obtains a license from the Department

Preserves the validity of all certificates issued before the effective date of the amendments