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IL HB0012

Bill

Official Source

Status

Introduced

1/9/2025

Primary Sponsor

Dave Severin

Click for details

Origin

House of Representatives

104th General Assembly

AI Summary

  • Increases the Illinois estate tax exclusion amount from $4,000,000 to $6,000,000 for persons dying on or after January 1, 2026
  • Amends the Illinois Estate and Generation-Skipping Transfer Tax Act by modifying the definition of "State tax credit"
  • Maintains the current $4,000,000 exclusion for persons dying between January 1, 2013 and December 31, 2025
  • Takes effect immediately upon becoming law

Legislative Description

ESTATE TX-EXCLUSION AMOUNT

Last Action

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

3/21/2025

Committee Referrals

Rules3/21/2025
Tax Policy: Other Taxes2/25/2025
Revenue & Finance2/4/2025
Rules1/9/2025

Full Bill Text

No bill text available