IL HB2896

Amends the Property Tax Code Section 15-15 regarding exempt properties that are leased or made available for profit.

Requires titleholders or owners of beneficial interests in exempt property to file copies of all leases or agreements and property descriptions with the chief county assessment officer.

Allows the chief county assessment officer to terminate a property's tax exemption if the titleholder or beneficial interest owner fails to file required leases, agreements, or descriptions.

Makes titleholders or beneficial interest owners liable for unpaid taxes up to the amount they received under the lease or agreement if they fail to comply with filing requirements and no other party to the lease files the documents.