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Fabio 5941153bb7 Legislation: batch B — IL IN KS KY LA MA MD ME MI MN 
Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 17:27:20 -04:00

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type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags
type title description jurisdiction legislature session identifier citation classification subjects status primary_sponsors version_count action_count vote_count first_action last_action source source_identifier source_url source_hash vintage source_snapshot retrieved_at confidence tags
Bill LIMITED LIAB CO-LOW-PROFIT Amends the Limited Liability Company Act. Allows for the creation of a low-profit limited liability company or L3C. Defines "L3C" or "low-profit limited liability company" to mean a limited liability company that does not have as a significant purpose the production of income or the appreciation of property and is organized for a business purpose that satisfies and is at all times operated to satisfy each of the following requirements: (1) it significantly furthers the accomplishment of one or more educational purposes within the meaning of the Internal Revenue Code of 1986 and would not have been formed but for the company's relationship to the accomplishment of charitable or educational purposes; (2) no significant purpose of the company is the production of income or the appreciation of property; and (3) the purpose of the company is not to accomplish one or more political or legislative purposes. Also provides that if a company which met the requirements of a low-profit limited liability company at its formation should at any time cease to satisfy any one of those requirements, it shall then immediately cease to be a low-profit limited liability company. Makes other changes. us/states/il Illinois General Assembly 96th SB 239 Illinois SB 239 (96th)
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3 47 2 2009-02-04 2009-08-04 openstates ocd-bill/22161608-1831-4b05-979d-a3100cdaa136 http://ilga.gov/legislation/BillStatus.asp?DocNum=239&GAID=10&DocTypeID=SB&LegId=40822&SessionID=76&GA=96 119ea4fc0e3b971b9938d7eec597cb90b085468a10ce866c1ab86b22f7021888 2026-07-01 https://data.openstates.org/daily/2026-07-01/public.pgdump 2026-07-06 reported
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Illinois SB 239 (96th) — LIMITED LIAB CO-LOW-PROFIT

Amends the Limited Liability Company Act. Allows for the creation of a low-profit limited liability company or L3C. Defines "L3C" or "low-profit limited liability company" to mean a limited liability company that does not have as a significant purpose the production of income or the appreciation of property and is organized for a business purpose that satisfies and is at all times operated to satisfy each of the following requirements: (1) it significantly furthers the accomplishment of one or more educational purposes within the meaning of the Internal Revenue Code of 1986 and would not have been formed but for the company's relationship to the accomplishment of charitable or educational purposes; (2) no significant purpose of the company is the production of income or the appreciation of property; and (3) the purpose of the company is not to accomplish one or more political or legislative purposes. Also provides that if a company which met the requirements of a low-profit limited liability company at its formation should at any time cease to satisfy any one of those requirements, it shall then immediately cease to be a low-profit limited liability company. Makes other changes.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

  1. Introduced (filed) — source
  2. Engrossed (committee substitute) — source
  3. Enrolled (enrolled) — source

Votes

  • Third Reading — 116–0 (pass) · lower
  • Third Reading — 59–0 (pass) · upper

Sponsors

  • Heather Steans — primary (person)

Timeline

The legislative action history — every referral, reading, and vote.

  • 2009-02-04 Filed with Secretary by Sen. Heather Steans filing
  • 2009-02-04 First Reading reading-1
  • 2009-02-04 Referred to Assignments referral-committee
  • 2009-02-04 Added as Chief Co-Sponsor Sen. David Koehler
  • 2009-02-10 Assigned to Judiciary referral-committee
  • 2009-02-10 Added as Chief Co-Sponsor Sen. Michael Bond
  • 2009-02-19 Postponed - Judiciary
  • 2009-02-20 Added as Chief Co-Sponsor Sen. Dan Kotowski
  • 2009-02-25 Held in Judiciary
  • 2009-03-05 Postponed - Judiciary
  • 2009-03-11 Do Pass Judiciary; 011-000-000 committee-passage
  • 2009-03-11 Placed on Calendar Order of 2nd Reading March 12, 2009
  • 2009-03-12 Senate Floor Amendment No. 1 Filed with Secretary by Sen. Heather Steans amendment-introduction
  • 2009-03-12 Senate Floor Amendment No. 1 Referred to Assignments referral-committee
  • 2009-03-18 Senate Floor Amendment No. 1 Assignments Refers to Judiciary
  • 2009-03-19 Senate Floor Amendment No. 1 Recommend Do Adopt Judiciary; 009-000-000
  • 2009-03-25 Senate Floor Amendment No. 2 Filed with Secretary by Sen. Heather Steans amendment-introduction
  • 2009-03-25 Senate Floor Amendment No. 2 Referred to Assignments referral-committee
  • 2009-03-25 Senate Floor Amendment No. 3 Filed with Secretary by Sen. Heather Steans amendment-introduction
  • 2009-03-25 Senate Floor Amendment No. 3 Referred to Assignments referral-committee
  • 2009-03-30 Second Reading reading-2
  • 2009-03-30 Senate Floor Amendment No. 1 Adopted; Steans amendment-passage
  • 2009-03-30 Placed on Calendar Order of 3rd Reading March 31, 2009
  • 2009-03-30 Senate Floor Amendment No. 3 Assignments Refers to Judiciary
  • 2009-03-31 Senate Floor Amendment No. 3 Recommend Do Adopt Judiciary; 007-000-000
  • 2009-04-02 Added as Chief Co-Sponsor Sen. Jacqueline Y. Collins
  • 2009-04-02 Recalled to Second Reading reading-2
  • 2009-04-02 Senate Floor Amendment No. 3 Adopted; Steans amendment-passage
  • 2009-04-02 Placed on Calendar Order of 3rd Reading
  • 2009-04-02 Third Reading - Passed; 059-000-000 reading-3, passage
  • 2009-04-02 Senate Floor Amendment No. 2 Tabled Pursuant to Rule 5-4(a) amendment-failure
  • 2009-04-02 Arrived in House introduction
  • 2009-04-02 Placed on Calendar Order of First Reading reading-1
  • 2009-04-02 Chief House Sponsor Rep. Greg Harris
  • 2009-04-02 First Reading reading-1
  • 2009-04-02 Referred to Rules Committee referral-committee
  • 2009-04-14 Assigned to Judiciary I - Civil Law Committee referral-committee
  • 2009-04-29 Do Pass / Short Debate Judiciary I - Civil Law Committee; 011-000-000 committee-passage
  • 2009-04-29 Placed on Calendar 2nd Reading - Short Debate
  • 2009-05-06 Second Reading - Short Debate reading-2
  • 2009-05-06 Placed on Calendar Order of 3rd Reading - Short Debate
  • 2009-05-07 Third Reading - Short Debate - Passed 116-000-000 reading-3, passage
  • 2009-05-07 Passed Both Houses
  • 2009-06-05 Sent to the Governor executive-receipt
  • 2009-08-04 Governor Approved executive-signature
  • 2009-08-04 Effective Date January 1, 2010
  • 2009-08-04 Public Act . . . . . . . . . 96-0126 became-law

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/22161608-1831-4b05-979d-a3100cdaa136. Confidence: reported (aggregated from official Illinois legislature records).

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