IL HB3014

Creates the Vacancy Fraud Act to address fraudulent claims for property tax reductions based on property vacancy in counties with 3,000,000 or more inhabitants (applies to Cook County).

Defines vacancy fraud as knowingly making false statements to assessment officers, boards of review, or other decision-makers to obtain enhanced tax reductions, or contradicting statements made to lenders, investors, or insurers about the property's value or condition.

Empowers county boards of review to investigate and adjudicate vacancy fraud complaints filed by taxing districts, assessment officers, or property owners in the same taxing district within a 5-year period.

Imposes penalties on property owners found guilty of vacancy fraud: a civil penalty of 2 times the tax reduction amount received, and a 3-year prohibition from receiving enhanced vacancy reductions for that property.

Directs penalty payments first to affected taxing districts, with remaining funds split equally between the board of review and chief county assessment officer's office to cover administrative costs.