LYONS,JOSEPH-CAPPARELLI-BEAUBIEN. (DILLARD) 805 ILCS 5/1.80 from Ch. 32, par. 1.80 805 ILCS 5/2.10 from Ch. 32, par. 2.10 805 ILCS 5/6.25 from Ch. 32, par. 6.25 805 ILCS 5/9.05 from Ch. 32, par. 9.05 805 ILCS 5/9.20 805 ILCS 5/10.30 from Ch. 32, par. 10.30 805 ILCS 5/10.35 from Ch. 32, par. 10.35 805 ILCS 5/12.20 from Ch. 32, par. 12.20 805 ILCS 5/13.45 from Ch. 32, par. 13.45 805 ILCS 5/14.10 from Ch. 32, par. 14.10 805 ILCS 5/14.15 from Ch. 32, par. 14.15 805 ILCS 5/14.30 from Ch. 32, par. 14.30 805 ILCS 5/15.35 from Ch. 32, par. 15.35 805 ILCS 5/15.40 from Ch. 32, par. 15.40 805 ILCS 5/15.45 from Ch. 32, par. 15.45 805 ILCS 5/15.65 from Ch. 32, par. 15.65 805 ILCS 5/15.70 from Ch. 32, par. 15.70 805 ILCS 5/15.75 from Ch. 32, par. 15.75 805 ILCS 5/Art. 15A heading new 805 ILCS 5/15A.05 new 805 ILCS 5/15A.10 new 805 ILCS 5/15A.15 new 805 ILCS 5/15A.20 new 805 ILCS 5/15A.25 new 805 ILCS 5/15A.30 new 805 ILCS 5/15A.35 new 805 ILCS 5/15A.40 new 805 ILCS 5/15A.45 new 805 ILCS 5/15A.50 new 805 ILCS 5/15A.55 new 805 ILCS 5/15A.60 new 805 ILCS 5/15A.65 new 805 ILCS 5/15A.70 new 805 ILCS 5/15.20 rep. 805 ILCS 5/15.25 rep. 805 ILCS 5/15.30 rep. 805 ILCS 5/15.50 rep. 805 ILCS 5/15.55 rep. 805 ILCS 5/15.60 rep. Amends the Business Corporation Act of 1983. Repeals Sections concerning foreign and domestic corporation license fees and domestic corporation franchise taxes. Adds new Sections imposing a franchise tax upon foreign and domestic corporations. Provides procedures to apportion the taxable capital on business conducted or on property located in Illinois. Provides the tax rate for the franchise tax. Provides that the minimum amount of franchise tax imposed on a corporation is $25 and the maximum is $1,000,000 upon taxable capital and $1,000,000 upon additional taxable capital. Provides procedures for computing the franchise tax for taxable periods of less than 12 months. Requires corporations to file a franchise tax return. Provides that a corporation that dissolves, liquidates, withdraws from this State, or has its corporate existence terminated in a merger or consolidation shall not be obligated to pay any franchise tax for the period from the end of its immediately preceding taxable period to the date of the liquidation, dissolution, withdrawal, or termination. Provides for penalties and interest for a late payment of the franchise tax. Provides that the new franchise tax Sections apply to all taxable periods ending on or after December 31, 2002. Provides rules for transition between the current franchise tax Sections and the new franchise tax Sections. Effective immediately. FISCAL NOTE (Office of Secretary of State) Amendatory changes imposing a cap on additional franchise tax could result in a revenue loss of $3 million. HOUSE AMENDMENT NO. 2. Deletes reference to: 805 ILCS 5/1.80 805 ILCS 5/2.10 805 ILCS 5/6.25 805 ILCS 5/9.05 805 ILCS 5/9.20 805 ILCS 5/10.30 805 ILCS 5/10.35 805 ILCS 5/12.20 805 ILCS 5/13.45 805 ILCS 5/14.10 805 ILCS 5/14.15 805 ILCS 5/14.30 805 ILCS 5/15.35 805 ILCS 5/15.40 805 ILCS 5/15.45 805 ILCS 5/15.65 805 ILCS 5/15.70 805 ILCS 5/15.75 805 ILCS 5/15A heading new 805 ILCS 5/15A.05 new 805 ILCS 5/15A.10 new 805 ILCS 5/15A.15 new 805 ILCS 5/15A.20 new 805 ILCS 5/15A.25 new 805 ILCS 5/15A.30 new 805 ILCS 5/15A.35 new 805 ILCS 5/15A.40 new 805 ILCS 5/15A.45 new 805 ILCS 5/15A.50 new 805 ILCS 5/15A.55 new 805 ILCS 5/15A.60 new 805 ILCS 5/15A.65 new 805 ILCS 5/15A.70 new 805 ILCS 5/15.20 rep. 805 ILCS 5/15.25 rep. 805 ILCS 5/15.30 rep. 805 ILCS 5/15.50 rep. 805 ILCS 5/15.55 rep. 805 ILCS 5/15.60 rep. Adds reference to: 805 ILCS 5/1.01 from Ch. 32, par. 1.01 Deletes everything. Amends the Business Corporation Act of 1983. Makes a technical change in a Section concerning the short title. SENATE AMENDMENT NO. 1. Adds an immediate effective date. FEB-06-2002 H FILED WITH CLERK FEB-06-2002 H ADDED AS A JOINT SPONSOR CAPPARELLI FEB-06-2002 H FIRST READING FEB-06-2002 H REFERRED TO HOUSE RULES COMMITTEE RULES FEB-13-2002 H ASSIGNED TO COMMITTEE REVENUE FEB-15-2002 H ADDED AS A JOINT SPONSOR BEAUBIEN FEB-22-2002 H DO PASS/SHORT DEBATE 011-000-000 HREV FEB-22-2002 H PLACED CALENDAR 2ND READING-SHORT DEBATE MAR-14-2002 H FISCAL NOTE FILED MAR-14-2002 H CALENDAR ORDER 2ND READING-SHORT DEBATE MAR-20-2002 H AMENDMENT NO. 01-LYONS,JOSEPH MAR-20-2002 H AMENDMENT REFERRED TO HRUL MAR-20-2002 H CALENDAR ORDER 2ND READING-SHORT DEBATE MAR-22-2002 H SECOND READING-SHORT DEBATE MAR-22-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE APR-03-2002 H AMENDMENT NO. 02-LYONS,JOSEPH APR-03-2002 H AMENDMENT REFERRED TO HRUL APR-03-2002 H HELD ON CAL ORDER 2ND RDG - SHORT DEBATE APR-05-2002 H AMENDMENT NO. 02-LYONS,JOSEPH APR-05-2002 H RECOMMENDS BE ADOPTED HRUL/004-000-000 APR-05-2002 H AMENDMENT NO. 02-LYONS,JOSEPH APR-05-2002 H ADOPTED APR-05-2002 H PLCD CAL ORDER 3RD READING-SHORT DEBATE APR-05-2002 H TABLED PURSUANT TO RULE 40(a) HA #01 APR-05-2002 H THIRD READING/SHORT DEBATE/PASSED 083-029-000 APR-09-2002 S ARRIVE IN SENATE APR-09-2002 S PLACED CALENDAR ORDER OF FIRST READING 02-04-10 APR-16-2002 S CHIEF SPONSOR DILLARD APR-17-2002 S FIRST READING APR-17-2002 S REFERRED TO SENATE RULES COMMITTEE RULES APR-17-2002 S ASSIGNED TO COMMITTEE REVENUE APR-25-2002 S DO PASS 007-000-000 SREV APR-25-2002 S PLACED ON CALENDAR ORDER OF 2ND READING 02-05-06 MAY-07-2002 S SECOND READING MAY-07-2002 S PLACED ON CALENDAR ORDER OF 3RD READING 02-05-08 MAY-09-2002 S FILED WITH SECRETARY MAY-09-2002 S AMENDMENT NO. 01-DILLARD MAY-09-2002 S AMENDMENT REFERRED TO SRUL MAY-09-2002 S AMENDMENT NO. 01-DILLARD MAY-09-2002 S BE APPROVED FOR CONSIDERATION SRUL MAY-09-2002 S RECALLED TO SECOND READING MAY-09-2002 S AMENDMENT NO. 01-DILLARD MAY-09-2002 S ADOPTED MAY-09-2002 S PLACED ON CALENDAR ORDER OF 3RD READING MAY-09-2002 S THIRD READING - PASSED 056-000-000 MAY-09-2002 H ARRIVE IN HOUSE MAY-09-2002 H PLACED ON CALENDAR ORDER OF CONCURRENCE 01 MAY-14-2002 H MOTION FILED NON-CONCUR 01/LYONS,JOSEPH MAY-14-2002 H CALENDAR ORDER OF CONCURRENCE 01 MAY-15-2002 H FINAL PASSAGE DEADLINE EXTENDED-RULE 9(B) TO 5/31/02 MAY-15-2002 H CALENDAR ORDER OF CONCURRENCE 01 MAY-31-2002 H RE-REFERRED TO RULES COMM/RULE 19(A) RULES HRUL JAN-07-2003 H SESSION SINE DIE END OF INQUIRY Full Text Bill Summary