IL SB2543

Requires county assessors in counties with 3,000,000 or more inhabitants to include compulsory sales when revising property assessments.

Requires boards of review in counties with 3,000,000 or more inhabitants to include compulsory sales when reviewing and correcting assessments, including sales submitted by complainants if they reflect the same property characteristics.

Directs boards of review to consider whether a compulsory sale would otherwise qualify as an arm's length transaction when evaluating assessments.

Takes effect immediately upon becoming law.