Bill Status of SB3441

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SB3441 - 104th General Assembly

FRANCHISE TAX-REPEAL
Last Action
2/04/2026 - Senate: Referred to Assignments
Senate Sponsors
Sen. Dave Syverson and Chris Balkema
Statutes Amended In Order of Appearance
805 ILCS 5/15.35from Ch. 32, par. 15.35
805 ILCS 5/15.65from Ch. 32, par. 15.65
805 ILCS 5/15.90from Ch. 32, par. 15.90
805 ILCS 5/15.97from Ch. 32, par. 15.97
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 and after January 1, 2029. Provides that all amounts remaining in the Corporate Franchise Tax Refund Fund shall be transferred to the General Revenue Fund no later than December 31, 2030. Makes changes in provisions concerning the statute of limitations. Repeals provisions concerning franchise taxes payable by domestic and foreign corporations on January 1, 2030. Effective immediately.
Actions
Date Chamber Action
2/04/2026 Senate Filed with Secretary by Sen. Dave Syverson
2/04/2026 Senate First Reading
2/04/2026 Senate Referred to Assignments
3/04/2026 Senate Added as Co-Sponsor Sen. Chris Balkema