Illinois General Assembly - Bill Status for SB1406
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 Bill Status of SB1406  103rd General Assembly

Short Description:  FRANCHISE TAX-REPEAL

Senate Sponsors
Sen. Win Stoller - Jason Plummer, Dave Syverson, Andrew S. Chesney, Craig Wilcox, Sally J. Turner and Neil Anderson

Last Action
DateChamber Action
  2/6/2023SenateReferred to Assignments

Statutes Amended In Order of Appearance
805 ILCS 5/15.35from Ch. 32, par. 15.35
805 ILCS 5/15.65from Ch. 32, par. 15.65
805 ILCS 5/15.98 new

Synopsis As Introduced
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.

DateChamber Action
  2/6/2023SenateFiled with Secretary by Sen. Win Stoller
  2/6/2023SenateFirst Reading
  2/6/2023SenateReferred to Assignments
  3/28/2023SenateAdded as Co-Sponsor Sen. Dave Syverson
  3/29/2023SenateAdded as Chief Co-Sponsor Sen. Jason Plummer
  3/30/2023SenateAdded as Co-Sponsor Sen. Andrew S. Chesney
  4/17/2023SenateAdded as Co-Sponsor Sen. Craig Wilcox
  7/18/2023SenateAdded as Co-Sponsor Sen. Sally J. Turner
  1/26/2024SenateAdded as Co-Sponsor Sen. Neil Anderson

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