IL SB3740 | 2023-2024 | 103rd General Assembly

Status

Completed Legislative Action
Spectrum: Partisan Bill (Democrat 5-0)
Status: Passed on August 9 2024 - 100% progression
Action: 2024-08-09 - Public Act . . . . . . . . . 103-1039
Text: Latest bill text (Chaptered) [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.

Tracking Information

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Title

REAL ESTATE LICENSING-VARIOUS

Sponsors


Roll Calls

2024-05-24 - House - Third Reading in House (Y: 115 N: 0 NV: 0 Abs: 0) [PASS]
2024-04-12 - Senate - Third Reading in Senate (Y: 59 N: 0 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2024-08-09SenatePublic Act . . . . . . . . . 103-1039
2024-08-09SenateEffective Date January 1, 2025; Some Provisions
2024-08-09SenateEffective Date August 9, 2024; Some Provisions;
2024-08-09SenateGovernor Approved
2024-06-21SenateSent to the Governor
2024-05-24HouseAdded Alternate Chief Co-Sponsor Rep. La Shawn K. Ford
2024-05-24SenatePassed Both Houses
2024-05-24HouseThird Reading - Short Debate - Passed 115-000-000
2024-05-17HouseThird Reading/Final Action Deadline Extended-9(b) May 24, 2024
2024-05-13HousePlaced on Calendar Order of 3rd Reading - Short Debate
2024-05-13HouseSecond Reading - Short Debate
2024-05-08HouseAdded Alternate Chief Co-Sponsor Rep. Diane Blair-Sherlock
2024-05-02HousePlaced on Calendar 2nd Reading - Short Debate
2024-05-01HouseDo Pass / Short Debate Labor & Commerce Committee; 026-000-000
2024-04-24HouseAssigned to Labor & Commerce Committee
2024-04-15HouseReferred to Rules Committee
2024-04-15HouseFirst Reading
2024-04-12HouseChief House Sponsor Rep. Jenn Ladisch Douglass
2024-04-12HouseArrived in House
2024-04-12SenateThird Reading - Passed; 059-000-000
2024-04-10SenateAdded as Co-Sponsor Sen. Laura M. Murphy
2024-04-10SenatePlaced on Calendar Order of 3rd Reading **
2024-03-14SenatePlaced on Calendar Order of 3rd Reading March 20, 2024
2024-03-14SenateSecond Reading
2024-03-07SenatePlaced on Calendar Order of 2nd Reading March 12, 2024
2024-03-07SenateDo Pass Licensed Activities; 008-000-000
2024-02-28SenateAssigned to Licensed Activities
2024-02-09SenateReferred to Assignments
2024-02-09SenateFirst Reading
2024-02-09SenateFiled with Secretary by Sen. Javier L. Cervantes

Code Citations

ChapterArticleSectionCitation TypeStatute Text
2254541-10Amended CodeCitation Text
22545410-10Amended CodeCitation Text
22545410-20Amended CodeCitation Text
22545415-35Amended CodeCitation Text
22545415-50Amended CodeCitation Text
22545420-20Amended CodeCitation Text
22545420-20.1Amended CodeCitation Text
22545420-50Amended CodeCitation Text
22545420-82Amended CodeCitation Text
22545425-25Amended CodeCitation Text
22545425-30Amended CodeCitation Text
22545425-35Amended CodeCitation Text
22545430-15Amended CodeCitation Text
22545430-25Amended CodeCitation Text
22545430-5Amended CodeCitation Text
2254545-20Amended CodeCitation Text
2254545-25Amended CodeCitation Text
2254545-28Amended CodeCitation Text
2254545-35Amended CodeCitation Text
2254545-45Amended CodeCitation Text
2254545-60Amended CodeCitation Text
2254545-60.1New CodeSee Bill Text
2254545-60.5New CodeSee Bill Text
2254545-70Amended CodeCitation Text
301055.1015New CodeSee Bill Text

Illinois State Sources


Bill Comments

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