Bill Title: Amends the Business Corporation Act of 1983. Removes the terms "franchise tax" and "franchise taxes" from the provisions of the Act. Repeals provisions concerning (i) franchise taxes payable by domestic and foreign corporations; (ii) the basis for computation of franchise taxes payable by domestic and foreign corporations; (iii) the rates of franchise taxes payable by domestic and foreign corporations; and (iv) computation and collection of annual franchise taxes by the Secretary of State. Makes other changes. Amends the Public Utilities Act, the State Housing Act, and the Illinois Vehicle Code by changing all references to franchise taxes imposed under the Business Corporation Act of 1983 to conform with the changes made to the Business Corporation Act of 1983 under the amendatory Act. Effective immediately.

Spectrum: Moderate Partisan Bill (Republican 4-1)

Status: (Introduced - Dead) 2015-03-27 - House Committee Amendment No. 1 Rule 19(a) / Re-referred to Rules Committee [HB0391 Detail]

Text: Latest bill text (Introduced) [HTML]

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Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Representative David Harris [R]	Primary	Sponsored Bills	HD-053	FollowTheMoney	Ballotpedia	VoteSmart
Representative Robert Pritchard [R]	Cosponsor	Sponsored Bills	HD-070	FollowTheMoney	Ballotpedia	VoteSmart
Representative Margo McDermed [R]	Cosponsor	Sponsored Bills	HD-037	FollowTheMoney	Ballotpedia	VoteSmart
Representative Reginald Phillips [R]	Cosponsor	Sponsored Bills	HD-110	FollowTheMoney	Ballotpedia	VoteSmart
Representative Carol Sente [D]	Cosponsor	Sponsored Bills	HD-059	FollowTheMoney	Ballotpedia	VoteSmart

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