Illinois House Bill 5738 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 1-0)
Status: Failed on January 8 2019 - 100% progression
Action: 2019-01-08 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Business Corporation Act of 1983. Increases from $200 to $500 the minimum base penalty for transacting business in this State without authority. Provides that a corporation that effects a change in the number of issued shares or the amount of paid-in capital prior to January 1, 2019, rather than effecting a change at any time, shall file a report regarding the issued shares or paid-in capital. Provides that franchise taxes are not payable on or after January 1, 2019. Provides that on and after January 1, 2019, a corporation that fails to file an annual report shall pay a penalty of $50 plus $10 per month or part of a month that the report is delinquent.

CORPORATIONS-FRANCHISE TAX

Rep. David Olsen [R]

Date	Chamber	Action
2019-01-08	House	Session Sine Die
2018-02-16	House	Referred to Rules Committee
2018-02-16	House	First Reading
2018-02-16	House	Filed with the Clerk by Rep. David S. Olsen

Chapter	Article	Section	Citation Type	Statute Text
805	5	13.70	Amended Code	Citation Text
805	5	14.30	Amended Code	Citation Text
805	5	15.35	Amended Code	Citation Text
805	5	15.65	Amended Code	Citation Text
805	5	15.97	Amended Code	Citation Text
805	5	16.05	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=5738&GAID=14&DocTypeID=HB&SessionID=91&GA=100
Text	https://www.ilga.gov/legislation/100/HB/10000HB5738.htm