IllinoisSB3441104th General Assembly (2025–2026)Senate

FRANCHISE TAX-REPEAL

Sponsored By: Dave Syverson (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 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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Dave Syverson

    Republican • Senate

Cosponsors

  • Chris Balkema

    Republican • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Chris Balkema

    3/4/2026Senate
  2. Referred to Assignments

    2/4/2026Senate
  3. First Reading

    2/4/2026Senate
  4. Filed with Secretary by Sen. Dave Syverson

    2/4/2026Senate

Bill Text

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