New Laws Impacting Your Business As of Jan. 1 | Chicago Association of REALTORS®

New year, new decade, new laws – be sure you’re in compliance! Here’s what will impact your business starting Jan. 1, 2020:

  • License Law: On August 9, 2019, Governor JB Pritzker signed Public Act 101-0357 into law.  This updated the Real Estate License Act of 2000, extending it until January 1, 2030. The main purpose for this update was to overhaul the existing Act to meet modern-day standards, capture technological advances, adopt industry best practices and strengthen consumer protections. Know that the updates became effective upon the signing of our Governor. Here are the act’s major highlights. Please note: your CE will be impacted. But don’t panic – here’s how to take the right CE classes.
  • Just Housing Amendment: Following a lengthy rulemaking process, on Thursday, November 21, the Cook County Board adopted a set of rules for the Just Housing Amendment which will take effect on December 31, 2019 (although enforcement has been delayed until January 31, 2020. As of December 19, the Human Rights Commission has not produced any guidance for housing providers. We will share guidelines as soon as they are released. Here’s what you need to know to be in compliance with the amendment. You can also check out the full issue brief.
  • Recreational Marijuana: It’ll be legal to buy and smoke marijuana in Illinois. You won’t be able to grow your own unless you’re a registered medical marijuana patient, but adults 21 and up will have legal access to marijuana sold in dispensaries across the state. Public consumption is not allowed. Landlords can ban smoking in buildings or offices, and companies can still enforce zero-tolerance impairment policies. Read more about the new law and how it will impact real estate and property management.
  • Gender-Neutral Restrooms: Be aware – single-occupancy public restrooms can no longer indicate use by a specific gender. Instead, SB 556 requires they must be identified for all-gender use and have a sign that reads “restroom.”
  • Increased Developer Fees: The mayor’s 2020 budget includes some fee increases for real estate developers, including a $1,500 fee for those applying to build within the Lake Michigan and Lakefront Protection areas. There are also new “zoning review” fees for areas of work bigger than 10,000 square feet, which vary based on whether they’re in person or electronic.
  • Increased Parking Meter Rates: Chicago is raising parking meter rates for the first time since 2013, increasing 50 cents to $7 per hour in the Loop and to $4.50 per hour between North Avenue, Roosevelt Road, Halsted Street and Lake Michigan. Rates will jump the most in the West Loop, increasing by $2.50 to  $4.50 per hour. In the future, meter rates will climb with inflation.

Learn more about the new laws in Illinois and Chicago in 2020: