IL HB1733

Raises the Illinois estate tax exclusion amount from the current flat $4,000,000 to match the federal applicable exclusion amount under the Internal Revenue Code for persons dying on or after January 1, 2026

For persons dying on or after January 1, 2028, sets the exclusion amount as the greater of the current federal exclusion or what the federal exclusion would have been in calendar year 2027, protecting against potential future reductions in the federal threshold

Includes deceased spousal unused exclusion amounts (portability) in the applicable exclusion calculation, allowing surviving spouses to utilize their deceased spouse's unused exclusion

Designates the legislation as the "Estate Tax Threshold Fix Law"

Takes effect immediately upon becoming law