Illinois Senate Bill 116 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 8-0)
Status: Passed on August 6 2021 - 100% progression
Action: 2021-08-06 - Public Act . . . . . . . . . 102-0282
Text: Latest bill text (Chaptered) [HTML]

Amends the Business Corporation Act of 1983. Authorizes shareholder meetings to be held by means of remote communication. Provides for the combination of corporations and limited liability entities rather than limited liability companies and partnerships. Provides for reports of interim changes of corporations. Accelerates the repeal of provisions relating to franchise taxes from 2025 to 2024. Delays repeal of the corporate franchise tax refund fund from 2022 to 2024. Amends the Benefit Corporation Act to provide that a benefit corporation may be organized under the laws of another state. Amends the Limited Liability Company Act. Provides that a limited liability company may revoke its termination within 90 days after the effective date of the termination, or longer if the limited liability company pays a penalty, if it has not begun to distribute its assets. Requires the limited liability company to file articles of revocation of termination. Sets forth the contents of the articles of termination. Provides that after filing the articles of revocation, the limited liability company may resume business as if the termination had never occurred. Provides that a limited liability company may be reinstated following its termination. Requires the filing of an application for reinstatement, the payment of fees, and the filing of reports. Provides that upon reinstatement the existence of the limited liability company shall be deemed to have continued without interruption. Amends the Uniform Limited Partnership Act to provide that a request submitted by electronics means may not be considered a request for expedited service.

BUS CORP-SHAREHOLDERS MEETINGS

Sen. Julie Morrison [D]	Rep. Bob Morgan [D]	Rep. Debbie Meyers-Martin [D]	Rep. Carol Ammons [D]
Rep. Daniel Didech [D]	Rep. Jonathan Carroll [D]	Rep. Suzanne Ness [D]	Rep. Camille Lilly [D]

2021-05-30 - Senate - Concurrence in Senate (Y: 59 N: 0 NV: 0 Abs: 0) [PASS]
2021-05-19 - House - Third Reading in House (Y: 100 N: 15 NV: 3 Abs: 0) [PASS]
2021-03-10 - Senate - Third Reading in Senate (Y: 56 N: 1 NV: 2 Abs: 0) [PASS]

Date	Chamber	Action
2021-08-06	Senate	Public Act . . . . . . . . . 102-0282
2021-08-06	Senate	Effective Date January 1, 2022
2021-08-06	Senate	Governor Approved
2021-06-28	Senate	Sent to the Governor
2021-05-30	Senate	Passed Both Houses
2021-05-30	Senate	Senate Concurs
2021-05-30	Senate	House Committee Amendment No. 1 Senate Concurs 059-000-000
2021-05-29	Senate	House Committee Amendment No. 1 Motion To Concur Recommended Do Adopt Judiciary; 007-000-000
2021-05-25	Senate	House Committee Amendment No. 1 Motion to Concur Assignments Referred to Judiciary
2021-05-25	Senate	House Committee Amendment No. 1 Motion to Concur Referred to Assignments
2021-05-25	Senate	House Committee Amendment No. 1 Motion to Concur Filed with Secretary Sen. Julie A. Morrison
2021-05-19	Senate	Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 20, 2021
2021-05-19	Senate	Secretary's Desk - Concurrence House Amendment(s) 1
2021-05-19	House	Added Alternate Co-Sponsor Rep. Camille Y. Lilly
2021-05-19	House	Added Alternate Co-Sponsor Rep. Suzanne Ness
2021-05-19	House	Third Reading - Short Debate - Passed 100-015-001
2021-05-13	House	Placed on Calendar Order of 3rd Reading - Short Debate
2021-05-13	House	Second Reading - Short Debate
2021-05-05	House	Placed on Calendar 2nd Reading - Short Debate
2021-05-05	House	Do Pass as Amended / Short Debate Judiciary - Civil Committee; 009-003-000
2021-05-05	House	House Committee Amendment No. 1 Adopted in Judiciary - Civil Committee; by Voice Vote
2021-05-05	House	Added Alternate Co-Sponsor Rep. Jonathan Carroll
2021-05-04	House	House Committee Amendment No. 1 Rules Refers to Judiciary - Civil Committee
2021-04-30	House	House Committee Amendment No. 1 Referred to Rules Committee
2021-04-30	House	House Committee Amendment No. 1 Filed with Clerk by Rep. Bob Morgan
2021-04-28	House	Added Alternate Co-Sponsor Rep. Daniel Didech
2021-04-28	House	Assigned to Judiciary - Civil Committee
2021-04-28	House	Added Alternate Chief Co-Sponsor Rep. Carol Ammons
2021-04-15	House	Added Alternate Chief Co-Sponsor Rep. Debbie Meyers-Martin
2021-04-13	House	Referred to Rules Committee
2021-04-13	House	First Reading
2021-04-08	House	Chief House Sponsor Rep. Bob Morgan
2021-03-11	House	Arrived in House
2021-03-10	Senate	Third Reading - Passed; 056-001-000
2021-03-09	Senate	Placed on Calendar Order of 3rd Reading March 10, 2021
2021-03-09	Senate	Second Reading
2021-03-03	Senate	Placed on Calendar Order of 2nd Reading March 9, 2021
2021-03-03	Senate	Do Pass Judiciary; 008-000-000
2021-02-09	Senate	Assigned to Judiciary
2021-02-03	Senate	Referred to Assignments
2021-02-03	Senate	First Reading
2021-02-03	Senate	Filed with Secretary by Sen. Julie A. Morrison

Chapter	Article	Section	Citation Type	Statute Text
805	5	7.05	Amended Code	Citation Text
805	5	7.15	Amended Code	Citation Text
805	5	7.30	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=116&GAID=16&DocTypeID=SB&SessionID=110&GA=102
Text	https://www.ilga.gov/legislation/102/SB/10200SB0116.htm
Text	https://www.ilga.gov/legislation/102/SB/10200SB0116eng.htm
Text	https://www.ilga.gov/legislation/102/SB/10200SB0116enr.htm
Text	https://www.ilga.gov/legislation/publicacts/102/102-0282.htm
Amendment	https://www.ilga.gov/legislation/102/SB/10200SB0116ham001.htm
Roll Call	https://www.ilga.gov/legislation/votehistory/102/senate/10200SB0116_03102021_007000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/102/house/10200SB0116_05192021_003000T.pdf
Roll Call	https://www.ilga.gov/legislation/votehistory/102/senate/10200SB0116ham001_05302021_021000C.pdf