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SB2325 - 104th General Assembly
BUSINESS CORP-FRANCHISE TAX
Last Action
Statutes Amended In Order of Appearance
805 ILCS 5/14.35from Ch. 32, par. 14.35
805 ILCS 5/15.90from Ch. 32, par. 15.90
805 ILCS 5/16.05from Ch. 32, par. 16.05
Synopsis As Introduced
Amends the Business Corporation Act of 1983. In provisions concerning the franchise tax, provides that the rate of penalties and interest on any franchise tax or fee, for which the Secretary of State provides written notice of the amount of penalties and interest owed to a corporation on or after January 1, 2026, shall be the rate of interest established under specified provisions of the Illinois Income Tax Act, and no other penalties or interest shall be imposed or charged to a corporation. Makes changes in provisions concerning the statute of limitations. Makes changes that are declaratory of existing law. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/07/2025 | Senate | Filed with Secretary by Sen. Robert F. Martwick |
| 2/07/2025 | Senate | First Reading |
| 2/07/2025 | Senate | Referred to Assignments |
| 3/04/2025 | Senate | Assigned to Executive |
| 3/18/2025 | Senate | Added as Co-Sponsor Sen. Sue Rezin |
| 3/19/2025 | Senate | Do Pass Executive; 011-000-000 |
| 3/19/2025 | Senate | Placed on Calendar Order of 2nd Reading March 20, 2025 |
| 4/02/2025 | Senate | Added as Co-Sponsor Sen. Paul Faraci |
| 4/04/2025 | Senate | Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick |
| 4/04/2025 | Senate | Senate Floor Amendment No. 1 Referred to Assignments |
| 4/08/2025 | Senate | Senate Floor Amendment No. 1 Assignments Refers to Executive |
| 4/08/2025 | Senate | Second Reading |
| 4/08/2025 | Senate | Placed on Calendar Order of 3rd Reading April 9, 2025 |
| 4/09/2025 | Senate | Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 013-000-000 |
| 4/11/2025 | Senate | Rule 2-10 Third Reading Deadline Established As May 9, 2025 |
| 5/09/2025 | Senate | Rule 3-9(a) / Re-referred to Assignments |