(Section scheduled to be repealed on January 1, 2029)

363 words·~2 min read·/il/chapter-20/act-4113/1

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 10. Real Estate Valuation Task Force.

(a)The Real Estate Valuation Task Force is hereby established.

(b)The Task Force shall consist of the following members:

(1)4 members appointed one each by the Speaker of the House of Representatives, the

Minority Leader of the House of Representatives, the President of the Senate, and the Minority Leader of the Senate;

(2)the Secretary of Financial and Professional Regulation, or a designee;

(3)the Director of Commerce and Economic Opportunity, or a designee;

(4)the Director of Human Rights, or a designee;

(5)the Director of Revenue, or a designee;

(6)the Executive Director of the Illinois Housing Development Authority, or a

designee;

(7)a representative of a statewide banking association representing banks of all

asset sizes, appointed by the Governor;

(8)a representative of a statewide banking association exclusively representing banks

with assets below $20,000,000,000, appointed by the Governor;

(9)a representative of a statewide association representing credit unions, appointed

by the Governor;

(10)a representative of an agency, organization, or association advocating for fair

housing, appointed by the Governor;

(11)a representative of an agency, organization, or association for consumer

protection, appointed by the Governor; and

(12)a representative of a statewide appraisal organization, appointed by the Governor.

(c)Initial appointments to the Task Force shall be made as soon as practicable after the effective date of this Act. The Task Force shall hold its first meeting within a reasonable period of time after the completion of the appointment of its members, and shall convene regularly to carry out its duties and submit the reports required under this Act. At its first meeting, the Task Force shall elect its chair and any other officers from among its members.

(d)Members of the Task Force shall serve without compensation.

(e)The Department of Financial and Professional Regulation shall provide administrative and other support to the Task Force. Each agency and entity represented on the Task Force shall also share with the Task Force any data of the agency or entity necessary for the Task Force to carry out its duties under this Act.