IL SB2027

Creates the Vacancy Fraud Act applicable to counties with 3,000,000 or more inhabitants (Cook County).

Authorizes board of review to investigate complaints of vacancy fraud when property owners knowingly make false statements to obtain enhanced property tax reductions based on property vacancy.

Establishes complaint procedures requiring written notice to property titleholder at least 10 business days before filing, with board review and hearing process.

Imposes penalties on violators: civil penalty equal to 2 times the tax reduction received plus 3-year prohibition from claiming enhanced vacancy reductions on that property.

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