Illinois Compiled Statutes 50 ILCS 355/5-15 – Financial information
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Terms Used In Illinois Compiled Statutes 50 ILCS 355/5-15
- Contract: A legal written agreement that becomes binding when signed.
- Financial information: means the information provided to the municipality or county by the Department under Section 11 of the Retailers' Occupation Tax Act that is reported to the Department by a business located in a given municipality or county. See Illinois Compiled Statutes 50 ILCS 355/5-5
- Third party: means a person, partnership, corporation, or other entity or individual registered to do business in Illinois who contracts with a municipality or county to review financial information related to the disbursement of local taxes by the Department to the municipality or county. See Illinois Compiled Statutes 50 ILCS 355/5-5
The third party may use the financial information it receives from the contracting municipality or county only for the purpose of providing services to the municipality or county as specified in this Act and may not use the information for any other purpose. Electronic data submitted to third parties by the contracting municipality or county must be accessible only to third parties who have entered into a confidentiality agreement with the municipality or county or who have an existing contract with the municipality or county.