IL SB3583

Amends the Illinois Trust Code definition of "charitable trust" in Section 103 to exclude certain testamentary trusts and estates with ancillary charitable gifts.

Excludes testamentary trusts that provide ancillary charitable gifts in addition to distributions to non-charitable persons, if the trust becomes irrevocable upon the testator's death and can be settled and terminated within 18 months.

Excludes testamentary estates that provide ancillary charitable gifts or bequests in addition to bequests to non-charitable persons.

Applies these exclusions only during the settlement and termination period for the affected testamentary trusts.