IL SB3996

Creates the Foreign Agents Registration Act requiring individuals or entities acting as agents for foreign principals from designated "countries of concern" to register with the Illinois Attorney General within 10 days of becoming an agent.

Defines "countries of concern" as China, Russia, Iran, North Korea, Cuba, the Venezuelan regime of Nicolas Maduro, and Syria, with authority for the Governor to designate additional entities in consultation with the Illinois Emergency Management Agency and Office of Homeland Security.

Requires retroactive registration for anyone who acted as a foreign agent from a country of concern at any time after January 1, 2014 through the Act's effective date.

Registration statements must include detailed information such as the registrant's identity, nationality, business activities, compensation received, foreign principal relationships, and copies of all relevant agreements.

Exempts bona fide news organizations and journalists that are at least 80% beneficially owned by U.S. citizens and not controlled or financed by foreign principals.