IllinoisSB2325104th General Assembly (2025–2026)Senate

BUSINESS CORP-FRANCHISE TAX

Sponsored By: Robert F. Martwick (Democratic)

In Committee

Summary

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.

assignmentsexecutive

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Robert F. Martwick

    Democratic • Senate

Cosponsors

  • Paul Faraci

    Democratic • Senate

  • Sue Rezin

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 24 • No: 0

Senate vote • 4/9/2025

Senate Floor Amendment No. 1 Recommend Do Adopt Executive;

Yes: 13 • No: 0

Senate vote • 3/19/2025

Do Pass Executive;

Yes: 11 • No: 0

Actions Timeline

  1. Rule 3-9(a) / Re-referred to Assignments

    5/9/2025Senate
  2. Rule 2-10 Third Reading Deadline Established As May 9, 2025

    4/11/2025Senate
  3. Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 013-000-000

    4/9/2025Senate
  4. Placed on Calendar Order of 3rd Reading April 9, 2025

    4/8/2025Senate
  5. Second Reading

    4/8/2025Senate
  6. Senate Floor Amendment No. 1 Assignments Refers to Executive

    4/8/2025Senate
  7. Senate Floor Amendment No. 1 Referred to Assignments

    4/4/2025Senate
  8. Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick

    4/4/2025Senate
  9. Added as Co-Sponsor Sen. Paul Faraci

    4/2/2025Senate
  10. Placed on Calendar Order of 2nd Reading March 20, 2025

    3/19/2025Senate
  11. Do Pass Executive; 011-000-000

    3/19/2025Senate
  12. Added as Co-Sponsor Sen. Sue Rezin

    3/18/2025Senate
  13. Assigned to Executive

    3/4/2025Senate
  14. Referred to Assignments

    2/7/2025Senate
  15. First Reading

    2/7/2025Senate
  16. Filed with Secretary by Sen. Robert F. Martwick

    2/7/2025Senate

Bill Text

  • Introduced

  • Senate Amendment 1

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