FRANCHISE TAX-REPEAL House SponsorsRep. Jenn Ladisch Douglass 1/7/2025HouseSession Sine Die 805 ILCS 5/15.35from Ch. 32, par. 15.35805 ILCS 5/15.65from Ch. 32, par. 15.65805 ILCS 5/15.90from Ch. 32, par. 15.90805 ILCS 5/15.97from Ch. 32, par. 15.97 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. 2/9/2024HouseFiled with the Clerk by Rep. Jenn Ladisch Douglass 2/9/2024HouseFirst Reading 2/9/2024HouseReferred to Rules Committee 3/5/2024HouseAssigned to Revenue & Finance Committee 3/8/2024HouseTo Revenue-Income Tax Subcommittee 4/5/2024HouseRule 19(a) / Re-referred to Rules Committee 1/7/2025HouseSession Sine Die