FRANCHISE TAX-REPEAL Senate SponsorsSen. Dave Syverson and Chris Balkema 2/4/2026SenateReferred to Assignments 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. 15.97Amends 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. 2/4/2026SenateFiled with Secretary by Sen. Dave Syverson 2/4/2026SenateFirst Reading 2/4/2026SenateReferred to Assignments 3/4/2026SenateAdded as Co-Sponsor Sen. Chris Balkema