Gov. Bruce Rauner has signed into law an important series of changes to the state’s Real Estate License Act.
House Bill 3528, which was backed by Illinois REALTORS®, was unanimously passed by both chambers of the General Assembly earlier this year, and had been sent to the governor on June 23. He signed it Friday.
Among the bill’s provisions:
- The Real Estate Education Advisory Council (EAC) will become part of the Real Estate Administration and Disciplinary Board (READ). The EAC will operate as a subcommittee of the reconstituted READ board.
- The changes streamline the licensing of brokers and CE instructors and schools.
- It updates education requirements to allow two-hour CE courses rather than the previous three-hour mandated courses; and it allows modern course delivery options.
- Clarifies that a leasing agent’s broker can be disciplined if a leasing agent operates outside of the narrow scope of the law pertaining to leasing.
Illinois REALTORS® has worked for more than a year with the Illinois Department of Financial and Professional Regulation on the changes.
The House sponsor was Rep. Robert Rita, and the Senate sponsors were Sens. Chuck Weaver and Dave Syverson.
