ESTATE TAX-EXCLUSION AMOUNT
Summary
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
May 2023
Committee Review
Floor Vote
Governor
Introduced May 11, 2023
Last action Feb 16, 2024
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
12
Key actions
0
Committee
1
May 11, 2023
Committee
Referred to Assignments
lower
1 primary · 9 co-sponsors
Sponsors
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