SB 2325 Illinois Senate · 104th Regular Session

BUSINESS CORP-FRANCHISE TAX

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.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 7, 2025 Last action May 9, 2025

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 9, 2025

Committee

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

upper

Apr 9, 2025

Introduced

Senate Floor Amendment No. 1 Recommend Do Adopt Executive; 013-000-000

upper

Apr 8, 2025

Introduced

Senate Floor Amendment No. 1 Assignments Refers to Executive

upper

Apr 4, 2025

Committee

Senate Floor Amendment No. 1 Referred to Assignments

upper

Apr 4, 2025

Introduced

Senate Floor Amendment No. 1 Filed with Secretary by Sen. Robert F. Martwick

upper

Mar 19, 2025

Upper · Passed

Do Pass Executive; 011-000-000

upper

Mar 4, 2025

Committee

Assigned to Executive

upper

Feb 7, 2025

Committee

Referred to Assignments

upper

1 primary · 2 co-sponsors