Illinois General Assembly - Bill Status for HB2846

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, 2026. 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, 2026. Makes changes in provisions concerning the statute of limitations. Repeals provisions concerning franchise taxes payable by domestic and foreign corporations on January 1, 2027. Effective immediately.

Actions

Date	Chamber	Action
2/5/2025	House	Filed with the Clerk by Rep. Jeff Keicher
2/6/2025	House	First Reading
2/6/2025	House	Referred to Rules Committee
3/3/2025	House	Added Co-Sponsor Rep. Travis Weaver
3/4/2025	House	Assigned to Revenue & Finance Committee
3/6/2025	House	To Tax Policy: Other Taxes Subcommittee
3/21/2025	House	Rule 19(a) / Re-referred to Rules Committee
3/21/2025	House	Added Co-Sponsor Rep. Ryan Spain
5/13/2025	House	Added Co-Sponsor Rep. Tony M. McCombie

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