IL SB2325 | 2025-2026 | 104th General Assembly
Status
Sponsorship: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on February 7 2025 - 25% progression
Action: 2025-05-09 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 7 2025 - 25% progression
Action: 2025-05-09 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Business Corporation Act of 1983. In provisions concerning the franchise tax, provides that the rate of penalties and interest on any franchise tax or fee, for which the Secretary of State provides written notice of the amount of penalties and interest owed to a corporation on or after January 1, 2026, shall be the rate of interest established under specified provisions of the Illinois Income Tax Act, and no other penalties or interest shall be imposed or charged to a corporation. Makes changes in provisions concerning the statute of limitations. Makes changes that are declaratory of existing law. Effective immediately.
Title
BUSINESS CORP-FRANCHISE TAX
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-05-09 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2025-04-11 | Senate | Rule 2-10 Third Reading Deadline Established As May 9, 2025 |
| 2025-04-09 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 013-000-000 |
| 2025-04-08 | Senate | Placed on Calendar Order of 3rd Reading April 9, 2025 |
| 2025-04-08 | Senate | Second Reading |
| 2025-04-08 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Executive |
| 2025-04-04 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 2025-04-04 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick |
| 2025-04-02 | Senate | Added as Co-Sponsor Sen. Paul Faraci |
| 2025-03-19 | Senate | Placed on Calendar Order of 2nd Reading March 20, 2025 |
| 2025-03-19 | Senate | Do Pass Executive; 011-000-000 |
| 2025-03-18 | Senate | Added as Co-Sponsor Sen. Sue Rezin |
| 2025-03-04 | Senate | Assigned to Executive |
| 2025-02-07 | Senate | Referred to Assignments |
| 2025-02-07 | Senate | First Reading |
| 2025-02-07 | Senate | Filed with Secretary by Sen. Robert F. Martwick |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 805 | 5 | 14.35 | Amended Code | Citation Text |
| 805 | 5 | 15.90 | Amended Code | Citation Text |
| 805 | 5 | 16.05 | Amended Code | Citation Text |
