Illinois General Assembly - Bill Status for SB3488

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, 2025. Repeals on January 1, 2026 the provisions in the Act that establish the corporate franchise tax. 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.

Actions

Date	Chamber	Action
2/9/2024	Senate	Filed with Secretary by Sen. Win Stoller
2/9/2024	Senate	First Reading
2/9/2024	Senate	Referred to Assignments
2/21/2024	Senate	Added as Co-Sponsor Sen. Neil Anderson

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