IL HB4309

Requires the Illinois Tollway Authority to obtain written, sworn disclosure of all property owners and beneficiaries before entering any real property contract, including those holding more than 7.5% distributable income interest in LLCs, corporations, or partnerships

Allows publicly traded companies with no individual holding greater than 7.5% interest to satisfy disclosure requirements through a sworn statement by an officer or authorized representative

Extends the deadline for the Authority to file disclosure statements with county recorders from 3 business days to 7 business days after receipt

Removes previous provisions requiring separate disclosure procedures for condemnation proceedings and detailed beneficial interest tracing through multiple entity levels

Maintains existing penalties including voiding of non-compliant agreements and a $10,000 fine for knowing violations