Illinois General Assembly - Bill Status for HB5738
Illinois General Assembly

Previous General Assemblies

 Bill Status of HB5738  100th General Assembly


Short Description:  CORPORATIONS-FRANCHISE TAX

House Sponsors
Rep. David S. Olsen

Last Action
DateChamber Action
  1/8/2019HouseSession Sine Die

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, 2019, 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, 2019. Provides that on and after January 1, 2019, 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
  2/16/2018HouseFiled with the Clerk by Rep. David S. Olsen
  2/16/2018HouseFirst Reading
  2/16/2018HouseReferred to Rules Committee
  1/8/2019HouseSession Sine Die

Back To Top