99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
HB0171

 

Introduced , by Rep. Ron Sandack

 

SYNOPSIS AS INTRODUCED:
 
805 ILCS 180/50-11 new

    Amends the Limited Liability Company Act. Provides that the Secretary of State shall reduce the amount of any fee imposed under the Act by 50% if a majority of the membership interests in the domestic or foreign limited liability company responsible for paying the fee are, and the domestic or foreign limited liability company provides proof satisfactory to the Secretary of State that those interests are, held by one or more honorably discharged veterans of the armed forces of the United States. Provides that the Secretary of State shall adopt any rules necessary to implement this provision.


LRB099 03747 KTG 23759 b

FISCAL NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB0171LRB099 03747 KTG 23759 b

1    AN ACT concerning business.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Limited Liability Company Act is amended by
5adding Section 50-11 as follows:
 
6    (805 ILCS 180/50-11 new)
7    Sec. 50-11. Fee reduction; veterans. The Secretary of State
8shall reduce the amount of any fee imposed under this Act by
950% if a majority of the membership interests in the domestic
10or foreign limited liability company responsible for paying the
11fee are, and the domestic or foreign limited liability company
12provides proof satisfactory to the Secretary of State that
13those interests are, held by one or more honorably discharged
14veterans of the armed forces of the United States. The
15Secretary of State shall adopt any rules necessary to implement
16this Section.