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IL HB1487

Bill

Official Source

Status

Introduced

1/29/2019

Primary Sponsor

Tony McCombie

Click for details

Origin

House of Representatives

101st General Assembly

AI Summary

  • Eliminates the Illinois estate tax for persons dying on or after the effective date of the act
  • Eliminates the Illinois generation-skipping transfer tax for transfers occurring on or after the effective date
  • Amends the Illinois Estate and Generation-Skipping Transfer Tax Act by modifying Sections 2, 3, and 4
  • Preserves existing tax provisions for deaths and transfers that occurred prior to the effective date, including the $4,000,000 exclusion amount for estates of persons who died on or after January 1, 2013

Legislative Description

ESTATE TAX-REPEAL

Last Action

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

3/29/2019

Committee Referrals

Rules3/29/2019
Sales, Amusement & Other Taxes2/28/2019
Revenue & Finance2/13/2019
Rules2/1/2019

Full Bill Text

No bill text available