Comments: IL HB2937 | 2017-2018 | 100th General Assembly

Bill Title: Amends the Toll Highway Act. Deletes provisions concerning: land disclosure requirements; condemnation proceedings; beneficial interests; procedures for disclosure; recordation; validity of agreements; penalties; and other requirements. Provides that the Illinois State Toll Highway Authority may not enter into any contract relating to the ownership or use of real property unless the identity of every owner and beneficiary having an interest in the property and every member, shareholder, limited partner, or general partner entitled to receive more than 7.5% of the distributable income of any company or corporation having an interest in the property is disclosed. Provides that the disclosure shall be in writing and under oath. Provides that the beneficiaries of a lease shall furnish a trustee subject to disclosure under the provision with a letter of direction authorizing the trustee to provide the Authority with an up-to-date disclosure whenever requested by the Authority.

Spectrum: Slight Partisan Bill (Republican 3-1)

Status: (Engrossed) 2017-08-04 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [HB2937 Detail]

Text: Latest bill text (Engrossed) [HTML]

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