90th General Assembly
Summary of HB3910
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House Sponsors:

Short description: 
LAND BANKING BENEFIC DISCLOSUR                                             

Synopsis of Bill as introduced:
        Creates the Land  Banking  Beneficial  Disclosure  Act  of  1998.      
   Provides that no agreement or understanding of any kind may be made or      
   entered into by any department or agency of the State of Illinois with      
   a  trustee  or  beneficiary of a land trust, when the land is intended      
   for use as a correctional facility or for  airport  purposes,  or  for      
   land  banking  for  a correctional facility or airport purposes, until      
   the beneficial interests in the property or land trust have been fully      
   disclosed  in  a  written  statement  to  the  department  or  agency.      
   Requires the disclosure statement to  identify  each  beneficiary  and      
   define  his  or  her  interest.   Requires  the  trustee  to  file the      
   disclosure  statement  with  the   recorder   of   deeds.    Effective      
Last action on Bill: SESSION SINE DIE

   Last action date: 99-01-12

           Location: House

 Amendments to Bill: AMENDMENTS ADOPTED: HOUSE -   0     SENATE -   0


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