Illinois · Senate Bill 2276 · 104th General Assembly

REVENUE-VARIOUS

SB 2276 Sponsored by John F. Curran In committee

  1. Introduced Feb 7, 2025
  2. In committee Feb 7, 2025
  3. Passed the Senate Next
  4. Passed the House  
  5. To the governor  
  6. Became law  

What it does

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

Amends the Illinois Income Tax Act. Provides that a limitation on carryover deductions for corporations applies for taxable years ending on or after December 31, 2024 and prior to December 31, 2025 (currently, December 31, 2027). Amends the Business Corporation Act of 1983. Provides that no franchise tax shall be imposed on foreign or domestic corporations on or after January 1, 2026, and repeals those provisions on January 1, 2027. Effective immediately.

Every action

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

  1. SenateFiled with Secretary by Sen. John F. Curran
  2. SenateFirst Reading
  3. CommitteeReferred to Assignments · Senate Assignments
  4. SenateAdded as Chief Co-Sponsor Sen. Chris Balkema
  5. CommitteeAssigned to Revenue · Senate Revenue
  6. SenateRule 2-10 Committee Deadline Established As April 11, 2025
  7. SenateRule 2-10 Committee Deadline Established As May 9, 2025
  8. SenateRule 2-10 Committee/3rd Reading Deadline Established As May 23, 2025
  9. SenateRule 2-10 Committee/3rd Reading Deadline Established As June 1, 2025
  10. CommitteeRule 3-9(a) / Re-referred to Assignments · Senate Assignments

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 1 cosponsor: 1 Republican.

All 1 cosponsor

From Illinois's official records (www.ilga.gov), checked Nov 2, 2026. Text links go to the official versions; LegiList does not copy bill text.