IDENTITY THEFT NOTIFY ACT

Creates the Identity Theft Notification Act. Requires any agency, person, or business that conducts business in Illinois and owns or licenses data that includes personal information concerning an Illinois resident to notify the resident that there has been a breach of the security of that data following discovery or notification of the breach. Requires any agency, person, or business that maintains data that includes personal information concerning an Illinois resident and that the agency, person, or business does not own to notify the owner or licensee of the information of any breach of the security of the data immediately following discovery, if the personal information was, or is reasonably believed to have been acquired by an unauthorized person. Provides that notice may be provided in one of the following ways: (1) written notice; (2) electronic notice; or (3) substitute notice if the agency, person, or business demonstrates that the cost of providing notice would exceed $250,000, or the affected class of persons to be notified exceeds 500,000, or the agency, person, or business does not have sufficient contact information.