HB 2865 Illinois House · 104th Regular Session

ESTATE TAX-PHASE OUT

Summary

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that the amount of the taxes imposed under the Act shall be reduced in each year by 20%. Provides that no tax shall be imposed under the Act for persons dying on or after January 1, 2030 or for transfers occurring on or after January 1, 2030. Provides that the Act is repealed on January 1, 2031. Effective immediately.

Issues: ✗ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 5, 2025 Last action Mar 21, 2025

Floor votes

How they voted

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 21, 2025

Committee

Rule 19(a) / Re-referred to Rules Committee

lower

Mar 6, 2025

Lower · Passed

To Tax Policy: Other Taxes Subcommittee

lower

Mar 4, 2025

Committee

Assigned to Revenue & Finance Committee

lower

Feb 6, 2025

Committee

Referred to Rules Committee

lower

1 primary · 2 co-sponsors