Illinois 104th Regular Session Status: In Committee 3 D cosponsors

HB 2924 — CORPORATION-INCORPORATION DATE

Last action — Rule 19(a) / Re-referred to Rules Committee

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

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

Next likely step: a committee vote, then a floor vote in the House.

Prognosis

Advancing 40% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 3 sponsors

    1 primary, 2 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (3 D).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

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.

Bill Text

What changed in the latest version

2 added · 19 removed

Plain-language change summary

The recent amendment to HB 2924 allows corporations to limit or eliminate cumulative voting rights in certain situations, expanding options beyond what was previously allowed for new corporations incorporated after 1981. It also provides flexibility regarding voting rights for different classes of shares. This change matters because it gives corporations more control over their governance structures, potentially impacting shareholder influence and decision-making within the company.

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Latest
*LRB10411725SPS21814b* HB2924 104TH GENERAL ASSEMBLY State of Illinois and 2026 HB2924 Introduced 2/6/2025, by Rep.
HB2924 Engrossed LRB104 11725 SPS 21814 b AN ACT concerning business.
Bob Morgan SYNOPSIS AS INTRODUCED:
ILCS 5/7.40 from Ch.
32, par.
7.40 Amends the Business Corporation Act of 1983.
Provides that the articles of incorporation of any corporation (currently, any corporation incorporated after December 31, 1981) may limit or eliminate cumulative voting rights in all or specified circumstances, or may limit or deny voting rights or may provide special voting rights as to any class or classes or series of shares of such corporation.
LRB104 11725 SPS 21814 b A BILL FOR HB2924 LRB104 11725 SPS 21814 b AN ACT concerning business.
(b) The articles of incorporation of any corporation incorporated after December 31, 1981, may limit or eliminate cumulative voting rights in all or specified circumstances, or HB2924 - 2 - LRB104 11725 SPS 21814 b may limit or deny voting rights or may provide special voting rights as to any class or classes or series of shares of such corporation.
(b) The articles of incorporation of any corporation incorporated after December 31, 1981, may limit or eliminate cumulative voting rights in all or specified circumstances, or HB2924 Engrossed - 2 - LRB104 11725 SPS 21814 b may limit or deny voting rights or may provide special voting rights as to any class or classes or series of shares of such corporation.
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Action History

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

  2. Placed on Calendar Order of 3rd Reading - Short Debate

  3. Second Reading - Short Debate

  4. Placed on Calendar 2nd Reading - Short Debate

  5. Do Pass / Short Debate Judiciary - Civil Committee; 018-000-000

  6. Added Chief Co-Sponsor Rep. Curtis J. Tarver, II

  7. Assigned to Judiciary - Civil Committee

  8. Added Chief Co-Sponsor Rep. Jennifer Gong-Gershowitz

  9. Referred to Rules Committee

  10. First Reading

  11. Filed with the Clerk by Rep. Bob Morgan

Sponsors

Sponsorship breakdown

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1 sponsors · 2 co-sponsors · 180 not signed on

Sponsors (1)

Co-sponsors (2)

Not signed on (180)

180 members have not signed on to this bill.

Show all 180 →

"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

Votes

Third Reading

Passed 18 Yea · 0 Nay · 2 Other
Party YeaNayPresentNot Voting
Democrat 12000
Republican 5002
Unaffiliated 1000
Total 18002
% of votes cast 90%0%0%10%
How each member voted (20)
Member Party Vote
Katz Muhl — Yea
Ann M. Williams Democrat Yea
Curtis J. Tarver, II Democrat Yea
Daniel Didech Democrat Yea
Dave Vella Democrat Yea
Eva-Dina Delgado Democrat Yea
Jay Hoffman Democrat Yea
Jennifer Gong-Gershowitz Democrat Yea
Kam Buckner Democrat Yea
Kevin John Olickal Democrat Yea
Lilian Jiménez Democrat Yea
Mary Beth Canty Democrat Yea
Thaddeus Jones Democrat Yea
Bradley Fritts Republican Not Voting
Daniel J. Ugaste Republican Yea
David Friess Republican Not Voting
Jed Davis Republican Yea
Martin McLaughlin Republican Yea
Steven Reick Republican Yea
Tom Weber Republican Yea

Official roll call →

Subjects

finance
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

Who sponsors HB 2924?
HB 2924 is sponsored by Bob Morgan (Democrat), Jennifer Gong-Gershowitz (Democrat), and Curtis J. Tarver, II (Democrat).
What is the current status of HB 2924?
This bill is in committee in the House. Introduced February 05, 2025. It must pass committee before a floor vote.
Where can I track HB 2924?
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Last checked for changes 3 months ago · updated continuously

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