Illinois 104th General Assembly Status: Introduced 4 R cosponsors

HB2846      — FRANCHISE TAX-REPEAL

Last action — Added Co-Sponsor Rep. Tony M. McCombie

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the House. Introduced February 05, 2025. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Summary

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, 2026. 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, 2026. Makes changes in provisions concerning the statute of limitations. Repeals provisions concerning franchise taxes payable by domestic and foreign corporations on January 1, 2027. Effective immediately.

Bill Text

We don't have the full text on file for this bill yet.

Read HB2846 on the official Illinois source →

Action History

  1. Added Co-Sponsor Rep. Tony M. McCombie

  2. Added Co-Sponsor Rep. Ryan Spain

  3. Rule 19(a) / Re-referred to Rules Committee

  4. To Tax Policy: Other Taxes Subcommittee

  5. Assigned to Revenue & Finance Committee

  6. Added Co-Sponsor Rep. Travis Weaver

  7. Referred to Rules Committee

  8. First Reading

  9. Filed with the Clerk by Rep. Jeff Keicher

Sponsors

Sponsorship breakdown

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1 sponsors · 3 co-sponsors · 179 not signed on

Sponsors (1)

Co-sponsors (3)

Not signed on (179)

179 members have not signed on to this bill.

Show all 179 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB2846      do?
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, 2026. 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, 2026. Makes changes in provisions concerning the statute of limitations. Repeals provisions concerning franchise taxes payable by domestic and foreign corporations on January 1, 2027. Effective immediately.
Who sponsors HB2846     ?
HB2846      is sponsored by Jeff Keicher (Republican), Travis Weaver (Republican), Ryan Spain (Republican), and Tony M. McCombie (Republican).
What is the current status of HB2846     ?
This bill has been introduced in the House. Introduced February 05, 2025. It must pass committee before a floor vote.
Where can I track HB2846     ?
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Last checked for changes 3 months ago · updated continuously

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