REG-ACCNTNT-PEER REVIEW House SponsorsRep. Frank J. Mautino-Lovana Jones-Art Tenhouse-Gary Hannig 1/9/2007HouseSession Sine Die 225 ILCS 450/0.03from Ch. 111, par. 5500.03225 ILCS 450/16from Ch. 111, par. 5517 Amends the Illinois Public Accounting Act. Provides a definition of "Peer Review Administrator". Requires firms and sole practitioners providing accounting services under the Act to undergo a peer review as a condition of renewing a license unless an exemption applies. Allows the Department of Financial and Professional Regulation to adopt rules. Provides penalties for failure to comply with remedial actions determined appropriate by the Peer Review Administrator. Requires the firm or sole practitioner to pay for the costs of the peer review. Provides that the peer review proceedings, records, reports, and other documents are privileged and provides exceptions to the privilege. Provides for the peer review year of combined or divided firms or sole practitioners. Grants civil immunity except for reckless or willful misconduct. Effective immediately. 2/18/2005HouseFiled with the Clerk by Rep. Frank J. Mautino 2/18/2005HouseChief Co-Sponsor Rep. Lovana Jones 2/18/2005HouseChief Co-Sponsor Rep. Art Tenhouse 2/18/2005HouseChief Co-Sponsor Rep. Gary Hannig 2/22/2005HouseFirst Reading 2/22/2005HouseReferred to Rules Committee 2/24/2005HouseAssigned to Executive Committee 3/10/2005HouseRule 19(a) / Re-referred to Rules Committee 1/9/2007HouseSession Sine Die