ESTATE TAX-EXCLUSION AMOUNT

What it does

The legislature's own summary of the bill, or its official long title.

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2025, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code as that Section exists on the effective date of the amendatory Act, including the inflation adjustment and including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.

Every action

15 steps, oldest first, as the legislature records them.

1. Feb 5, 2024SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
2. Feb 6, 2024SenateAdded as Co-Sponsor Sen. Win Stoller
3. Feb 6, 2024SenateAdded as Co-Sponsor Sen. John F. Curran
4. Feb 7, 2024SenateAdded as Co-Sponsor Sen. Seth Lewis
5. Feb 9, 2024SenateAdded as Co-Sponsor Sen. Sue Rezin
6. Feb 20, 2024SenateAdded as Chief Co-Sponsor Sen. Jason Plummer
7. Feb 28, 2024SenateAdded as Co-Sponsor Sen. Erica Harriss
8. Jan 7, 2025SenateSession Sine Die

Roll calls

No recorded votes on this bill yet.

Sponsors

The member who introduced it, joined by 11 cosponsors: 11 Republicans.

• Jil TracyR Primary sponsor · District 50