Gov. Bruce Rauner Signed House Bill 5502

Gov. Bruce Rauner signed House Bill 5502 which removes an unnecessary testing requirement and the portion of Illinois Appraisal Act that states an associate real estate trainee appraiser license may not be renewed more than 2 times.  This new law reduces barriers to entry into the appraisal field and encourage new real estate appraiser trainees to enter the industry.

One of ICAP's objectives has been to strengthen the Illinois Associate Real Estate Trainee Appraiser community. ICAP needs to ensure that future generations of real estate appraisers have a path to professionalism in Illinois. This is one reason why ICAP help draft HB5502. Special thanks to past ICAP board member Victoria Pierce, MAI, ICAP's President Kenneth J. Mrozek, MAI, SRA, ASA and ICAP's Legislative Team. 

The signing of HB 5502 is the first step in rebuilding the appraisal industry here in Illinois,” said Representative Tony McCombie, R-Savanna, who sponsored the legislation.

“Due to the increased costs of education and mandates those receiving licenses have continued to decline. I am pleased to have sponsored this bill and the signing of this legislation is a positive change for Illinois. HB 5502 will grow jobs and opportunities for people wanting to enter the real estate appraisal field.”

Read Public Act 100-0832 Here