IL SB3617

Authorizes the Department of Revenue to design and implement a voluntary data matching system with financial institutions to identify accounts of taxpayers delinquent on taxes collected by the Department.

Financial institutions are not required to participate and may continue existing case-by-case cooperation practices with the Department.

Participating financial institutions must compare account holder data against delinquent taxpayer lists provided by the Department and report quarterly matches of names and social security or tax identification numbers.

All information provided by financial institutions is confidential and may only be used for enforcing payment of delinquent taxes.

Financial institutions are protected from civil, criminal, or administrative liability for disclosing information, holding or surrendering accounts in response to Department liens or withholding orders, or other good faith compliance actions, except in cases of gross negligence or willful misconduct.