FRANCHISE TAX-REPEAL Senate SponsorsSen. Win Stoller and Neil Anderson 1/7/2025SenateSession Sine Die 805 ILCS 5/15.35from Ch. 32, par. 15.35805 ILCS 5/15.65from Ch. 32, par. 15.65805 ILCS 5/15.98 newAmends 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. Repeals on January 1, 2026 the provisions in the Act that establish the corporate franchise tax. Directs the Legislative Reference Bureau to prepare a bill effecting necessary changes to conform the statutes to the changes made by the amendatory Act. Effective immediately. 2/9/2024SenateFiled with Secretary by Sen. Win Stoller 2/9/2024SenateFirst Reading 2/9/2024SenateReferred to Assignments 2/21/2024SenateAdded as Co-Sponsor Sen. Neil Anderson 1/7/2025SenateSession Sine Die