IL SB1406 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 7-0)
Status: Introduced on February 6 2023 - 25% progression
Action: 2024-01-26 - Added as Co-Sponsor Sen. Neil Anderson
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 6 2023 - 25% progression
Action: 2024-01-26 - Added as Co-Sponsor Sen. Neil Anderson
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Business Corporation Act of 1983. Provides that, in the case of a domestic or foreign corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2024. Repeals those Sections on January 1, 2025. Directs the Legislative Reference Bureau to prepare a bill effecting necessary changes to conform the statutes to the changes made by the amendatory Act. Effective immediately.
Title
FRANCHISE TAX-REPEAL
Sponsors
| Sen. Win Stoller [R] | Sen. Jason Plummer [R] | Sen. Dave Syverson [R] | Sen. Andrew Chesney [R] |
| Sen. Craig Wilcox [R] | Sen. Sally Turner [R] | Sen. Neil Anderson [R] |
History
| Date | Chamber | Action |
|---|---|---|
| 2024-01-26 | Senate | Added as Co-Sponsor Sen. Neil Anderson |
| 2023-07-18 | Senate | Added as Co-Sponsor Sen. Sally J. Turner |
| 2023-04-17 | Senate | Added as Co-Sponsor Sen. Craig Wilcox |
| 2023-03-30 | Senate | Added as Co-Sponsor Sen. Andrew S. Chesney |
| 2023-03-29 | Senate | Added as Chief Co-Sponsor Sen. Jason Plummer |
| 2023-03-28 | Senate | Added as Co-Sponsor Sen. Dave Syverson |
| 2023-02-06 | Senate | Referred to Assignments |
| 2023-02-06 | Senate | First Reading |
| 2023-02-06 | Senate | Filed with Secretary by Sen. Win Stoller |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 805 | 5 | 15.35 | Amended Code | Citation Text |
| 805 | 5 | 15.65 | Amended Code | Citation Text |
| 805 | 5 | 15.98 | New Code | See Bill Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=1406&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB1406.htm |
