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 Bill Status of HB3670  100th General Assembly


Short Description:  CORPORATIONS-FRANCHISE TAXES

House Sponsors
Rep. David Harris

Last Action
DateChamber Action
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
805 ILCS 5/13.70from Ch. 32, par. 13.70
805 ILCS 5/14.30from Ch. 32, par. 14.30
805 ILCS 5/15.35from Ch. 32, par. 15.35
805 ILCS 5/15.65from Ch. 32, par. 15.65
805 ILCS 5/15.97from Ch. 32, par. 15.97
805 ILCS 5/16.05from Ch. 32, par. 16.05


Synopsis As Introduced
Amends the Business Corporation Act of 1983. Increases from $200 to $500 the minimum base penalty for transacting business in this State without authority. Provides that a corporation that effects a change in the number of issued shares or the amount of paid-in capital prior to January 1, 2018, rather than effecting a change at any time, shall file a report regarding the issued shares or paid-in capital. Provides that franchise taxes are not payable on or after January 1, 2018. Provides that on and after January 1, 2018, a corporation that fails to file an annual report shall pay a penalty of $50 plus $10 per month or part of a month that the report is delinquent.

Actions 
DateChamber Action
  2/10/2017HouseFiled with the Clerk by Rep. David Harris
  2/10/2017HouseFirst Reading
  2/10/2017HouseReferred to Rules Committee
  3/1/2017HouseAssigned to Revenue & Finance Committee
  3/9/2017HouseTo Sales and Other Taxes Subcommittee
  3/31/2017HouseRule 19(a) / Re-referred to Rules Committee

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