republic-os/legislation/us/states/il/99th/sb-2303.md

---
type: "Bill"
title: "BUSINESS-FUND TRANSFERS"
description: "Amends the Business Corporation Act of 1983. In provisions concerning the Department of Business Services Special Operations Fund, provides that on or before August 31 of each year, the balance in the Fund in excess of $600,000 shall be transferred to the General Revenue Fund (rather than the balance in the Fund at the end of any fiscal year shall not exceed $600,000 and any amount in excess thereof shall be transferred to the General Revenue Fund). In provisions concerning the Corporate Franchise Tax Refund Fund, provides that on or before August 31 of each year, the balance in the Fund in excess of $100,000 shall be transferred to the General Revenue Fund (rather than within a reasonable time after the 30th day of June of each year, the Secretary of State shall direct and the Comptroller shall order transferred to the General Revenue Fund all amounts in excess of $100,000 remaining in the fund as of June 30). Amends the Uniform Partnership Act (1997). In a provision concerning the Division of Corporations Limited Liability Partnership Fund, provides that on or before August 31 of each year, the balance in the Fund in excess of $200,000 shall be transferred to the General Revenue Fund (rather than the balance of the Fund at the end of any fiscal year shall not exceed $200,000, and any amount in excess thereof shall be transferred to the General Revenue Fund)."
jurisdiction: "us/states/il"
legislature: "Illinois General Assembly"
session: "99th"
identifier: "SB 2303"
citation: "Illinois SB 2303 (99th)"
classification: ["bill"]
subjects: []
status: "enacted"
primary_sponsors: []
version_count: 3
action_count: 27
vote_count: 2
first_action: "2016-01-27"
last_action: "2016-07-22"
source: "openstates"
source_identifier: "ocd-bill/382ee349-ddb5-4d6e-a18e-a58a4dec40d5"
source_url: "http://ilga.gov/legislation/BillStatus.asp?DocNum=2303&GAID=13&DocTypeID=SB&LegId=93553&SessionID=88&GA=99"
source_hash: "7e4734963da1ff13b117d0b60df7b9683ff5c9b274d9b2b63d908717d1b9a0d2"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-il"]
---

# Illinois SB 2303 (99th) — BUSINESS-FUND TRANSFERS

Amends the Business Corporation Act of 1983. In provisions concerning the Department of Business Services Special Operations Fund, provides that on or before August 31 of each year, the balance in the Fund in excess of $600,000 shall be transferred to the General Revenue Fund (rather than the balance in the Fund at the end of any fiscal year shall not exceed $600,000 and any amount in excess thereof shall be transferred to the General Revenue Fund). In provisions concerning the Corporate Franchise Tax Refund Fund, provides that on or before August 31 of each year, the balance in the Fund in excess of $100,000 shall be transferred to the General Revenue Fund (rather than within a reasonable time after the 30th day of June of each year, the Secretary of State shall direct and the Comptroller shall order transferred to the General Revenue Fund all amounts in excess of $100,000 remaining in the fund as of June 30). Amends the Uniform Partnership Act (1997). In a provision concerning the Division of Corporations Limited Liability Partnership Fund, provides that on or before August 31 of each year, the balance in the Fund in excess of $200,000 shall be transferred to the General Revenue Fund (rather than the balance of the Fund at the end of any fiscal year shall not exceed $200,000, and any amount in excess thereof shall be transferred to the General Revenue Fund).

## Version chain

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

1. **Introduced** (filed) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB2303&GA=99&SessionId=88&DocTypeId=SB&LegID=93553&DocNum=2303&GAID=13&Session=&print=true)
2. **Engrossed** (committee substitute) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB2303eng&GA=99&SessionId=88&DocTypeId=SB&LegID=93553&DocNum=2303&GAID=13&Session=&print=true)
3. **Enrolled** (enrolled) — [source](http://ilga.gov/legislation/fulltext.asp?DocName=09900SB2303enr&GA=99&SessionId=88&DocTypeId=SB&LegID=93553&DocNum=2303&GAID=13&Session=&print=true)

## Votes

- Third Reading — **115–0** (pass) · lower
- Third Reading — **51–0** (pass) · upper

## Sponsors

- Heather A. Steans — primary (person)

## Timeline

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

- **2016-01-27** Filed with Secretary by Sen. Heather A. Steans `filing`
- **2016-01-27** First Reading `reading-1`
- **2016-01-27** Referred to Assignments `referral-committee`
- **2016-02-03** Assigned to State Government and Veterans Affairs `referral-committee`
- **2016-02-18** Do Pass State Government and Veterans Affairs; 006-000-000 `committee-passage`
- **2016-02-18** Placed on Calendar Order of 2nd Reading March 1, 2016
- **2016-03-03** Second Reading `reading-2`
- **2016-03-03** Placed on Calendar Order of 3rd Reading March 8, 2016
- **2016-04-12** Third Reading - Passed; 051-000-000 `reading-3, passage`
- **2016-04-12** Arrived in House `introduction`
- **2016-04-12** Chief House Sponsor Rep. Gregory Harris
- **2016-04-12** First Reading `reading-1`
- **2016-04-12** Referred to Rules Committee `referral-committee`
- **2016-04-18** Assigned to Revenue & Finance Committee `referral-committee`
- **2016-04-27** To Sales and Other Taxes Subcommittee
- **2016-05-12** Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 005-000-000 `committee-passage`
- **2016-05-12** Remains in Revenue & Finance Committee
- **2016-05-12** Do Pass / Short Debate Revenue & Finance Committee; 012-000-000 `committee-passage`
- **2016-05-12** Placed on Calendar 2nd Reading - Short Debate
- **2016-05-17** Second Reading - Short Debate `reading-2`
- **2016-05-17** Placed on Calendar Order of 3rd Reading - Short Debate
- **2016-05-18** Third Reading - Short Debate - Passed 115-000-000 `reading-3, passage`
- **2016-05-18** Passed Both Houses
- **2016-06-16** Sent to the Governor `executive-receipt`
- **2016-07-22** Governor Approved `executive-signature`
- **2016-07-22** Effective Date January 1, 2017
- **2016-07-22** Public Act . . . . . . . . . 99-0620 `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/382ee349-ddb5-4d6e-a18e-a58a4dec40d5`. Confidence: reported (aggregated from official Illinois legislature records).