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 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.

Every action

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

1. Feb 4, 2026SenateFiled with Secretary by Sen. Dave Syverson
2. Feb 4, 2026SenateFirst Reading
3. Feb 4, 2026CommitteeReferred to Assignments · Senate Assignments
4. Mar 4, 2026SenateAdded as Co-Sponsor Sen. Chris Balkema

Roll calls

No recorded votes on this bill yet.

Sponsors

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

• Dave SyversonR Primary sponsor · District 35