Bill Text: IL HB1737 | 2021-2022 | 102nd General Assembly | Engrossed

---

Bill Title: Amends the Toll Highway Act. Provides that the 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 any interest in the property and every member, shareholder, limited partner, or general partner entitled to receive more than 7.5% of the total distributable income of any limited liability company, corporation, or limited partnership having any interest in the property is disclosed. Deletes provisions related to: condemnation proceedings; beneficial interests; and written statements. Provides that the Authority must file the statement of record with the recorder of each county in which any part of the land is located within 7 (rather than 3) business days after the statement is filed with the Authority.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed - Dead) 2022-04-30 - Alternate Chief Sponsor Changed to Sen. Don Harmon [HB1737 Detail]

Download: Illinois-2021-HB1737-Engrossed.html

---

HB1737 Engrossed LRB102 10470 RAM 15799 b
AN ACT concerning transportation.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Toll Highway Act is amended by changing
Section 9.12 as follows:
(605 ILCS 10/9.12)
Sec. 9.12. Land disclosure requirements.
(a) The 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 any interest, real or
personal, in the property and every member, shareholder,
limited partner, or general partner entitled to receive more
than 7.5% of the total distributable income of any limited
liability company, corporation, or limited partnership, having
any interest, real or personal, in the property is disclosed.
The disclosure shall be in writing and shall be subscribed by a
member, owner, authorized trustee, corporate official, general
partner, or managing agent, or his or her authorized attorney,
under oath. If the interest, stock, or shares in a limited
liability company, corporation, or general partnership are
publicly traded and there is no readily known individual
having greater than 7.5% interest, then a statement subscribed
to under oath by a member, officer of the corporation, general

HB1737 Engrossed - 2 - LRB102 10470 RAM 15799 b
partner, or managing agent, or his or her authorized attorney,
shall fulfill the statement of record required by this
Section. Disclosure required. The Authority may not enter into
any agreement or understanding for the use or acquisition of
land that is intended to be used or acquired for toll highway
purposes unless full disclosure of all beneficial interests in
the land is made under this Section.
(b) (Blank). Condemnation proceedings. If the Authority
commences condemnation proceedings to acquire land that is
intended to be used or acquired for toll highway purposes, the
holders of all beneficial interests in the land must make full
disclosure under this Section unless the court determines that
the disclosure would cause irreparable harm to one or more
holders of a beneficial interest.
(c) (Blank). Beneficial interests. Each holder of any
beneficial interest in the land, including without limitation
beneficial interests in a land trust, must be disclosed,
including both individuals and other entities. If any
beneficial interest is held by an entity, other than an entity
whose shares are publicly traded, and not by an individual,
then all the holders of any beneficial interest in that entity
must be disclosed. This requirement continues at each level of
holders of beneficial interests until all beneficial interests
of all individuals in all entities, other than entities whose
shares are publicly traded, have been disclosed.
(d) (Blank). Written statement. Disclosure must be made by

HB1737 Engrossed - 3 - LRB102 10470 RAM 15799 b
a written statement filed (i) with the Authority
contemporaneously with the execution of the agreement or
understanding or (ii) in the case of a condemnation
proceeding, with the Authority and the court within a time
period ordered by the court. Each individual and entity must
be disclosed by name and address and by a description of the
interest held, including the percentage interest in the land
held by the individual or entity. The statement must be
verified, subject to penalty of perjury, by the individual who
holds the greatest percentage of beneficial interest in the
land.
(e) Recordation. The Authority must file the statement of
record with the recorder of each county in which any part of
the land is located within 7 3 business days after the
statement is filed with the Authority.
(f) Agreements and understandings void. Any agreement or
understanding in violation of this Act is void.
(g) Penalty. A person who knowingly violates this Section
is guilty of a business offense and shall be fined $10,000.
(h) Other disclosure requirements. The disclosure required
under this Act is in addition to, and not in lieu of, any other
disclosure required by law.
(Source: P.A. 92-759, eff. 8-2-02.)