IL HB1737

Amends the Toll Highway Act to require the Illinois Toll Highway Authority to disclose the identity of all owners and beneficial interest holders in real property before entering into contracts for property ownership or use.

Requires disclosure of any member, shareholder, limited partner, or general partner entitled to receive more than 7.5% of total distributable income from limited liability companies, corporations, or limited partnerships with interests in the property.

Permits publicly traded entities without readily identifiable individual shareholders exceeding 7.5% interest to submit an oath statement instead of individual owner disclosure.

Extends the timeframe for recording disclosure statements with county recorders from 3 business days to 7 business days after filing with the Authority.

Establishes that any agreement or understanding violating these disclosure requirements is void and subjects violators to a $10,000 fine as a business offense.