ESTATE TAX-COMPUTATION
Summary
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2026, the amount of the Illinois estate tax shall be the amount of the Illinois taxable estate, multiplied by the Illinois estate tax rate. Sets forth the estate tax rate. Provides that the "Illinois taxable estate" means the decedent's federal gross estate, subject to certain modifications, including a deduction in the amount of $4,000,000. Makes conforming changes with respect to the generation-skipping transfer tax. Effective immediately.
Bill status
in committee
1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 31, 2025
Last action May 20, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
12
Key actions
2
Committee
5
May 20, 2025
Lower · Passed
Motion Filed to Suspend Rule 21 Rules Committee; Rep. Bob Morgan
lower
Mar 21, 2025
Committee
Rule 19(a) / Re-referred to Rules Committee
lower
Mar 3, 2025
Lower · Passed
To Tax Credit and Incentives Subcommittee
lower
Feb 25, 2025
Committee
Assigned to Revenue & Finance Committee
lower
Feb 4, 2025
Committee
Referred to Rules Committee
lower
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Margaret Croke
DDemocratic
Co
Eva-Dina Delgado
DDemocratic
Co
Wayne Rosenthal
RRepublican
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