Amends the Local Records Act. Provides that a unit of local government must compile a list of: (i) the pay and benefits of every employee, consultant, contractor, and other personnel of the unit of local government whose accumulated payments or compensation is at least $1,000 during a fiscal year; and (ii) each entity to which it directs a payment of more than $3,000 during a fiscal year, the amount of the payments, the address of the entity, and the product or service supplied by the entity. Provides that the lists must continue to be updated throughout the entire fiscal year by adding additional names of persons being paid at least $1,000 and for expenditures of government funds greater than $3,000. Provides that the unit of local government must publish on its website, if it has one, the compiled lists and must update the lists on the website at least annually. Provides that, if the unit of local government does not have a website, the unit of local government must publish the lists, on an annual basis, in a newspaper of general circulation in the county in which the unit of local government is located. Limits the concurrent exercise of home rule powers.