IL SB3003

Authorizes county boards to require owners of income-producing properties to file physical descriptions of their properties with the chief county assessment officer upon request, if adopted by ordinance or resolution.

Requires assessment information requests to include an individualized statement of all physical description data currently on record, allowing owners to simply confirm if no changes are needed.

Imposes penalties on property owners who fail to respond to requests for property information from the assessment officer.

Exempts financial records related to real estate income, expenses, and occupancy submitted to county assessment officers from public disclosure under the Freedom of Information Act, unless submitted as part of an assessment appeal.

Takes effect immediately upon becoming law.