FRANCHISE TAX-REPEAL

What it does

The legislature's own summary of the bill, or its official long title.

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, 2025. 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, 2025. Makes changes in provisions concerning the statute of limitations. Repeals provisions concerning franchise taxes payable by domestic and foreign corporations on January 1, 2026. Effective immediately.

Every action

7 steps, oldest first, as the legislature records them.

1. Feb 9, 2024HouseFiled with the Clerk by Rep. Jenn Ladisch Douglass
2. Feb 9, 2024HouseFirst Reading
3. Feb 9, 2024CommitteeReferred to Rules Committee · House Rules
4. Mar 5, 2024CommitteeAssigned to Revenue & Finance Committee · House Revenue & Finance
5. Mar 8, 2024CommitteeTo Revenue-Income Tax Subcommittee · House Income Tax Subcommittee
6. Apr 5, 2024CommitteeRule 19(a) / Re-referred to Rules Committee · House Rules
7. Jan 7, 2025HouseSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it.

• Jenn Ladisch DouglassD Primary sponsor · District 45