Bill Status of HB3205  103rd General Assembly

Short Description:  REVENUE-VARIOUS

House Sponsors
Rep. Tony M. McCombie, Jeff Keicher and Tom Weber

Last Action
DateChamber Action
  2/17/2023HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 5/207from Ch. 120, par. 2-207
805 ILCS 5/15.35from Ch. 32, par. 15.35
805 ILCS 5/15.65from Ch. 32, par. 15.65

Synopsis As Introduced
Amends the Illinois Income Tax Act. Makes changes concerning the federal depreciation deduction and net operating losses to restore provisions that were in effect prior to Public Act 102-16. Amends the Business Corporation Act of 1983. Provides that no franchise tax shall be imposed on foreign or domestic corporations on or after January 1, 2024, and repeals those provisions on January 1, 2025. Effective immediately.

DateChamber Action
  2/16/2023HouseFiled with the Clerk by Rep. Tony M. McCombie
  2/17/2023HouseFirst Reading
  2/17/2023HouseReferred to Rules Committee
  11/16/2023HouseAdded Co-Sponsor Rep. Jeff Keicher
  11/21/2023HouseAdded Co-Sponsor Rep. Tom Weber