IL SB3297

Amends the Department of Revenue Law to discharge any person or entity from liability to a delinquent taxpayer when they surrender property, rights to property, or discharge obligations upon the Director's demand for a tax levy, limited to the amount of property surrendered.

Authorizes the Department of Revenue to indemnify financial institutions that return fraudulent funds to the Department at the Director's request, provided the institution acted in good faith belief that funds were deposited as a result of fraud.

Applies indemnification to funds identified as fraudulently obtained against another taxpayer, the Department, or another State of Illinois agency.

Takes effect immediately upon becoming law.