IL HB5738 | 2017-2018 | 100th General Assembly

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 16 2018 - 25% progression
Action: 2018-02-16 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Summary

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.

Tracking Information

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Title

CORPORATIONS-FRANCHISE TAX

Sponsors


History

DateChamberAction
2018-02-16HouseReferred to Rules Committee
2018-02-16HouseFirst Reading
2018-02-16HouseFiled with the Clerk by Rep. David S. Olsen

Code Citations

ChapterArticleSectionCitation TypeStatute Text
805513.70Amended CodeCitation Text
805514.30Amended CodeCitation Text
805515.35Amended CodeCitation Text
805515.65Amended CodeCitation Text
805515.97Amended CodeCitation Text
805516.05Amended CodeCitation Text

Illinois State Sources


Bill Comments

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