IL HB5551 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Democrat 5-0)
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-04-19 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 9 2024 - 25% progression
Action: 2024-04-19 - Rule 19(a) / Re-referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Real Estate License Act of 2000. Provides that for licensure as a managing broker, the person must personally take and pass a written examination on Illinois specific real estate brokerage laws authorized by the Department of Financial and Professional Regulation. Provides that approved pre-license education for licensure as a managing broker, broker, or residential leasing agent shall be valid for 2 years after the date of satisfactory completion of all required pre-license education. Provides that a nonresident broker who meets certain requirements may also operate a virtual office in the State. On January 1, 2026, repeals a provision concerning reciprocity for managing brokers and brokers licensed in another state. Provides that on and after January 1, 2026, applications for licensure based upon reciprocal agreements shall not be accepted. Provides that licenses granted under reciprocal agreements prior to January 1, 2026 shall remain in force and may be renewed in the same manner as provided for a broker or managing broker license under the Act. Requires fair housing training as part of the continuing education requirements. Sets forth provisions concerning licensure of managing brokers and brokers licensed under the laws of another state or jurisdiction of the United States and authorizing virtual offices. Makes changes in provisions concerning definitions; exemptions from licensure; continuing education; disclosure of compensation; employment agreements; agency relationship disclosure; grounds for discipline; citations; illegal discrimination; fines and penalties; a scholarship program; funds; and licensing of education provider instructors. Makes a conforming change in the State Finance Act. Effective January 1, 2025, except that certain provisions are effective immediately.
Title
REAL ESTATE LICENSING-VARIOUS
Sponsors
| Rep. Jenn Ladisch Douglass [D] | Rep. Terra Costa Howard [D] | Rep. Diane Blair-Sherlock [D] | Rep. Dagmara Avelar [D] |
| Rep. Jawaharial Williams [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2024-04-19 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2024-04-17 | House | Held on Calendar Order of Second Reading - Short Debate |
| 2024-04-17 | House | Second Reading - Short Debate |
| 2024-04-11 | House | Added Chief Co-Sponsor Rep. Diane Blair-Sherlock |
| 2024-04-11 | House | Added Chief Co-Sponsor Rep. Terra Costa Howard |
| 2024-03-22 | House | Added Co-Sponsor Rep. Jawaharial Williams |
| 2024-03-22 | House | Added Co-Sponsor Rep. Dagmara Avelar |
| 2024-03-22 | House | Placed on Calendar 2nd Reading - Short Debate |
| 2024-03-21 | House | Do Pass / Short Debate Labor & Commerce Committee; 024-000-000 |
| 2024-03-12 | House | Assigned to Labor & Commerce Committee |
| 2024-02-09 | House | Referred to Rules Committee |
| 2024-02-09 | House | First Reading |
| 2024-02-09 | House | Filed with the Clerk by Rep. Jenn Ladisch Douglass |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 225 | 454 | 1-10 | Amended Code | Citation Text |
| 225 | 454 | 10-10 | Amended Code | Citation Text |
| 225 | 454 | 10-20 | Amended Code | Citation Text |
| 225 | 454 | 15-35 | Amended Code | Citation Text |
| 225 | 454 | 15-50 | Amended Code | Citation Text |
| 225 | 454 | 20-20 | Amended Code | Citation Text |
| 225 | 454 | 20-20.1 | Amended Code | Citation Text |
| 225 | 454 | 20-50 | Amended Code | Citation Text |
| 225 | 454 | 20-82 | Amended Code | Citation Text |
| 225 | 454 | 25-25 | Amended Code | Citation Text |
| 225 | 454 | 25-30 | Amended Code | Citation Text |
| 225 | 454 | 25-35 | Amended Code | Citation Text |
| 225 | 454 | 30-15 | Amended Code | Citation Text |
| 225 | 454 | 30-25 | Amended Code | Citation Text |
| 225 | 454 | 30-5 | Amended Code | Citation Text |
| 225 | 454 | 5-20 | Amended Code | Citation Text |
| 225 | 454 | 5-25 | Amended Code | Citation Text |
| 225 | 454 | 5-28 | Amended Code | Citation Text |
| 225 | 454 | 5-35 | Amended Code | Citation Text |
| 225 | 454 | 5-45 | Amended Code | Citation Text |
| 225 | 454 | 5-60 | Amended Code | Citation Text |
| 225 | 454 | 5-60.1 | New Code | See Bill Text |
| 225 | 454 | 5-60.5 | New Code | See Bill Text |
| 225 | 454 | 5-70 | Amended Code | Citation Text |
| 30 | 105 | 5.1015 | New Code | See Bill Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5551&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB5551.htm |
