License Law Passes House and Senate from IAR

License law rewrite clears Illinois House and Senate; now headed to governor. IAR’s Real Estate License Law rewrite (SB 1894) was approved on Oct. 15 by the House and on Oct. 29 by the Senate. The bill now goes to the Gov. Quinn for his approval. In terms of timing, the legislature has a maximum of 30 days to transmit the bill to the Governor, and then the Governor has 60 days to act on the bill. However, IAR anticipates that the bill will be acted upon relatively quickly. If approved, the section of the bill containing the Real Estate License Act is effective December 31, 2009. The bill gives licensees until April 30, 2012 to go through the proficiency exam or coursework requirements. Read IAR's License Law talking points and Q&A to help clear up any misconceptions about the proposal.