UPDATE-ICAP LEGISLATIVE ALERT

Thank you to all of the ICAP members that called and emailed the members of the Business & Occupational License Committee on SB3237. Representative Robert Rita mentioned that his committee received several emails and calls opposing this amendment.

Chairman Rita mentioned that this must be “a hot potato” …………why?………… because ICAP made it one.

Representative Rita would like an agreement with ICAP and the municipalities before his committee votes on this amendment. ICAP has agreed to withdraw their opposition if waiver valuations are signed by certified appraisers.

Representative Jehan Gordon filed an amendment yesterday. Here is the synopsis:

SB 3237 (HCA 0001)
Provides that a valuation waiver completed by an employee of a municipality that meets the requirements of the Illinois Department of Transportation may not be valid unless it has received approval from the Illinois Department of Transportation.

Link to full text:

http://www.ilga.gov/legislation/fulltext.asp?DocName=09700SB3237ham001&GA=97&SessionId=84&DocTypeId=SB&LegID=64282&DocNum=3237&GAID=11&Session=

As of today, there is no agreement with the municipalities and ICAP on SB3237 and the amendment has not come out of committee. ICAP will continue to work with the Chairman, Representative Jehan Gordon, and the Business & Occupational License Committee Members to ensure that licensed real estate appraisers are used to develop opinions of market value for real estate in Illinois (in line with the Illinois Real Estate Appraisal Act).

ICAP will keep you updated and if you have any questions on SB3237 please email or call jim@jrblaydes.com / 815.223.1110

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Posted on May 25, 2012, in Illinois License Law, Illinois Real Estate Appraisal Act, Legislative Alerts. Bookmark the permalink. Leave a comment.

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