REAL ESTATE-VARIOUS

From the Legislature

Amends the Public Contract Fraud Act. In provisions concerning spending money without obtaining title to land, provides that the Department of Transportation may proceed with bidding or awarding a contract or any construction activities once it has complied with specified federal requirements. Amends the Real Estate Appraiser Licensing Act of 2002. Makes a change in the definition of "appraiser panel" and defines "waiver valuation". Provides that waiver valuations are not appraisals and a license or certification under the Act is not required if the valuations are created in specified manners. Provides that any person who is certified or licensed under the Act and performs a waiver valuation in accordance with specified requirements under the Act and specified federal law and regulations shall be exempt from adherence to all relevant provisions of the Uniform Standards of Professional Appraisal Practice while conducting those waiver valuations. Provides that nothing in the Act shall be construed to exempt any person who is certified or licensed under the Act from adhering to the Uniform Standards of Professional Appraisal Practice while conducting appraisals in accordance with the Act. Amends the Illinois Highway Code. In provisions allowing the Department of Transportation to acquire an interest in land, rights, or other property for specified road construction purposes, specifies that the property may be public or private property. Makes other changes. Effective immediately.