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HB2846

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FRANCHISE TAX-REPEAL

What this bill does

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.

Sponsor: Jeff Keicher Chamber: House Introduced: 2025-02-05
Stuck
P(Advance)
6.7%
Chance it ever reaches a milestone (committee, floor, etc.). Not “next step.”
P(Law)
0.0%
Chance it becomes law given where it is now (stage, momentum).
Forecast
1.1%
Low P(law) at intro — sponsor & topic only; no progress or delay.
Confidence: 93%

Calculating prediction drivers...

Pipeline Progress

Current stage: In Committee · Last action 377 days ago · STAGNANT

How does a bill become law in Illinois?
  1. Introduction of Bill

    A member of the Senate or the House introduces a bill, which is assigned a unique identifying number (e.g., "H.B. ___" for House bills and "S.B. ___" for Senate bills). If not enacted, it must be reintroduced in the next General Assembly with a new number.

  2. Committee Work — Hearings

    The bill goes to the appropriate committee, which holds hearings to gather expert opinions and determine the need for the legislation.

  3. Committee Work — Markup, Amendments, Report

    The committee may make amendments to the bill. If approved, a committee report endorsing the bill is issued.

  4. Floor Debate

    The bill is debated and can be further amended. The debate transcripts are accessible online for public viewing.

  5. Passage and Consideration in Second Chamber

    If the bill passes in the first chamber, it moves to the second chamber for a similar review process. If both chambers approve, it goes to the governor.

  6. Gubernatorial Action

    The governor can sign the bill into law, veto it, or take no action (resulting in an automatic law after 60 days). The type of veto can be total or amendatory. Once signed, the bill becomes a Public Act and is assigned a Public Act number.

Sponsor Context

Hearings

This bill has not been scheduled for a committee hearing.

Witness slips

3 slips filed. Proponent / opponent / no position as filed with the committee.

Name Organization Representing Position Hearing committee Hearing date
Donovan Griffith Illinois Manufacturers' Association Illinois Manufacturers' Association Proponent Revenue & Finance 2025-03-20
Jim Long Illinois Policy Illinois Policy Proponent Tax Policy: Other Taxes Subcommitte 2025-03-13
Jerry Peck Community Bankers Association of Illinois Community Bankers Association of Illinois Proponent Revenue & Finance 2025-03-11

Action History

9 actions recorded. Last action: 2025-05-13 — Added Co-SponsorRep. Tony M. McCombie. Each action's meaning and outcome signal are classified automatically.

2025-02-05 Introduction & Filing
Filed with the Clerk byRep. Jeff Keicher House Rule 6(b)
Bill officially submitted to the House Clerk during the session.
2025-02-06 Introduction & Filing
First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38
Formal introduction — title read into the official record. Required procedural step; bill now exists in the system.
2025-02-06 Committee Assignment
Referred toRules Committee Senate Rule 3-8(a); House Rule 18(a)
Sent to a committee (usually Rules in the House, Assignments in the Senate). The gatekeeping step — Rules/Assignments decides which substantive committee hears the bill.
2025-03-03 Co-Sponsorship Mild +
Added Co-SponsorRep. Travis Weaver Senate Rule 5-1(a); House Rule 37(a)
A legislator adds their name as co-sponsor, signaling public support for the bill.
2025-03-04 Committee Assignment
Assigned toRevenue & Finance Committee Senate Rule 3-8(a); House Rule 18(b)
Sent to a substantive committee (e.g., Transportation, Revenue). This is where the bill gets a real hearing and evaluation.
2025-03-06 Committee Assignment
ToTax Policy: Other Taxes Subcommittee Rule 3-3(b)
Referred to a subcommittee for more focused review (e.g., 'To Tax Policy: Other Taxes Subcommittee').
2025-03-21 Deadlines & Re-referrals Mild −
Rule 19(a) / Re-referred toRules Committee House Rule 19(a); Senate analog: Rule 3-9(a)
MISSED COMMITTEE DEADLINE — bill did not get a committee vote before the deadline and is re-referred to Rules/Assignments. The bill is NOT dead but faces an uphill battle to be reassigned. Most bills that hit Rule 19(a) do not advance.
2025-03-21 Co-Sponsorship Mild +
Added Co-SponsorRep. Ryan Spain Senate Rule 5-1(a); House Rule 37(a)
A legislator adds their name as co-sponsor, signaling public support for the bill.
2025-05-13 Co-Sponsorship Mild +
Added Co-SponsorRep. Tony M. McCombie Senate Rule 5-1(a); House Rule 37(a)
A legislator adds their name as co-sponsor, signaling public support for the bill.

All actions (table)

Date Chamber Action Category Signal
2025-02-05 House Filed with the Clerk byRep. Jeff Keicher House Rule 6(b) Introduction & Filing —
2025-02-06 House First Reading Senate Rule 5-1(d)/5-2; House Rule 37(d)/38 Introduction & Filing —
2025-02-06 House Referred toRules Committee Senate Rule 3-8(a); House Rule 18(a) Committee Assignment —
2025-03-03 House Added Co-SponsorRep. Travis Weaver Senate Rule 5-1(a); House Rule 37(a) Co-Sponsorship Mild +
2025-03-04 House Assigned toRevenue & Finance Committee Senate Rule 3-8(a); House Rule 18(b) Committee Assignment —
2025-03-06 House ToTax Policy: Other Taxes Subcommittee Rule 3-3(b) Committee Assignment —
2025-03-21 House Rule 19(a) / Re-referred toRules Committee House Rule 19(a); Senate analog: Rule 3-9(a) Deadlines & Re-referrals Mild −
2025-03-21 House Added Co-SponsorRep. Ryan Spain Senate Rule 5-1(a); House Rule 37(a) Co-Sponsorship Mild +
2025-05-13 House Added Co-SponsorRep. Tony M. McCombie Senate Rule 5-1(a); House Rule 37(a) Co-Sponsorship Mild +