DOMESTIC FRANCHISE TAX-REPEAL
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HB2861 — DOMESTIC FRANCHISE TAX-REPEAL
Last action — Rule 19(a) / Re-referred to Rules Committee
No card. One bill, free forever — alerts when it moves.
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1Introduced
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2In Committee
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3Passed House
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4Passed Senate
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5To Executive
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6Enacted
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.
Prognosis
Where this bill stands today.
Odds of enactment
LowHow often bills like it became law.
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.
Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.
Summary
Amends the Business Corporation Act of 1983. Provides that, on or after January 1, 2026 and prior to January 1, 2027, the first $100,000 in liability is exempt from the franchise tax payable by domestic corporations. Provides that, in the case of a domestic corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2027. Repeals the provision concerning franchise taxes payable by domestic corporations on January 1, 2027. Effective immediately.
Bill Text
We don't have the full text on file for this bill yet.
Read HB2861 on the official Illinois source →Action History
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Rule 19(a) / Re-referred to Rules Committee
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To Tax Policy: Other Taxes Subcommittee
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Assigned to Revenue & Finance Committee
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Referred to Rules Committee
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First Reading
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Filed with the Clerk by Rep. Tony M. McCombie
Sponsors
- Tony M. McCombie · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 182 not signed on
Sponsors (1)
- Tony M. McCombie Republican
Co-sponsors (0)
None.
Not signed on (182)
182 members have not signed on to this bill.
Show all 182 →"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.
Subjects
Frequently asked questions
- What does HB2861 do?
- Amends the Business Corporation Act of 1983. Provides that, on or after January 1, 2026 and prior to January 1, 2027, the first $100,000 in liability is exempt from the franchise tax payable by domestic corporations. Provides that, in the case of a domestic corporation, no payment is required for a franchise tax that would have been due and payable on or after January 1, 2027. Repeals the provision concerning franchise taxes payable by domestic corporations on January 1, 2027. Effective immediately.
- Who sponsors HB2861 ?
- HB2861 is sponsored by Tony M. McCombie (Republican).
- What is the current status of HB2861 ?
- This bill has been introduced in the House. Introduced February 05, 2025. It must pass committee before a floor vote.
- Where can I track HB2861 ?
- Track HB2861 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 4 months ago · updated continuously
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