IllinoisHB2846104th General Assembly (2025–2026)House

FRANCHISE TAX-REPEAL

Sponsored By: Jeff Keicher (Republican)

In Committee

Summary

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.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Jeff Keicher

    Republican • House

Cosponsors

  • Ryan Spain

    Republican • House

  • Tony M. McCombie

    Republican • House

  • Travis Weaver

    Republican • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. Tony M. McCombie

    5/13/2025House
  2. Added Co-Sponsor Rep. Ryan Spain

    3/21/2025House
  3. Rule 19(a) / Re-referred to Rules Committee

    3/21/2025House
  4. To Tax Policy: Other Taxes Subcommittee

    3/6/2025House
  5. Assigned to Revenue & Finance Committee

    3/4/2025House
  6. Added Co-Sponsor Rep. Travis Weaver

    3/3/2025House
  7. Referred to Rules Committee

    2/6/2025House
  8. First Reading

    2/6/2025House
  9. Filed with the Clerk by Rep. Jeff Keicher

    2/5/2025House

Bill Text

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