IL HB3429 | 2023-2024 | 103rd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Business Corporation Act of 1983. Provides for the reduction of franchise tax liabilities for domestic and foreign corporations beginning January 1, 2024. Repeals provisions concerning franchise taxes payable by domestic and foreign corporations on December 31, 2026. Effective immediately.
Title
CORPORATIONS-FRANCHISE TAX
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-07 | House | Session Sine Die |
| 2023-11-21 | House | Added Co-Sponsor Rep. Tom Weber |
| 2023-11-16 | House | Added Co-Sponsor Rep. Jeff Keicher |
| 2023-02-17 | House | Referred to Rules Committee |
| 2023-02-17 | House | First Reading |
| 2023-02-17 | House | Filed with the Clerk by Rep. Michael T. Marron |
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 |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3429&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB3429.htm |
