Illinois signs new CPA pathways bill

Illinois Gov. JB Pritzker signed a bill into law on Friday that adds two additional pathways to CPA licensure. 

House Bill 2459 amends the Illinois Public Accounting Act to add two new paths, in addition to the current 150-hour path, requiring either 1) a bachelor's degree with a concentration in accounting and two years of experience, or 2) a master's degree with the required concentration in accounting and one year of work experience. All pathways require that candidates pass the Uniform CPA Exam. 

The legislation also ensures CPA mobility, so out-of-state CPAs can serve clients in Illinois without having to obtain an Illinois license if their issuing state's requirements are substantially equivalent.

"We're pleased to see Gov. Pritzker has signed into law this important legislation for our state," Illinois CPA Society president and CEO Geoffrey Brown, said in a statement. "As states all across the nation advance their own bills to bolster their CPA ranks, the signature of our bill ensures Illinois' CPAs will remain at the forefront of the national business landscape; it protects the needs of our state's businesses, nonprofits and units of government; and it ensures a broader pipeline of next-generation accounting talent will be able to become licensed, regulated professionals. This is a big victory for the profession in our state, and we can't thank enough the bill's sponsors, co-sponsors and other stakeholders and supporters who were instrumental in achieving this goal."

Dave Newman - Fotolia

The legislation is scheduled to be implemented starting in 2027. It was introduced earlier this year by Rep. Natalie Manley, D-Joliet, and Amy Elik, R-Edwardsville, who are both CPAs. It was sponsored by Chief Senate Sponsor Sen. Suzy Glowiak Hilton, D-Oakbrook Terrace, and cosponsor Sen. Chris Balkema, R-Pontiac. It passed unanimously in both chambers.

The ICPAS, one of the largest CPA state organizations, which originally proposed the bill, "believes this law change will help reduce barriers to entry into the CPA profession, most notably, the time and costs required to become a CPA, while still preserving the rigor and integrity of the credential," according to a news release. The Illinois Board of Examiners and the Illinois Department of Financial and Professional Regulation were partners in drafting the bill. 

Illinois is one of dozens of states that have already passed changes to licensure requirements in an ongoing effort to address the profession's talent shortage. Most recently, in June, Pennsylvania passed a similar bill that, when signed by the governor, will make it the first state whose laws will go into effect. Additionally, New York passed its bill on June 12 and Minnesota passed its bill in May.