IL SB3015

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act to exclude business interests in Illinois-based manufacturing businesses from the state estate tax calculation for decedents dying on or after January 1, 2027

Defines "manufacturing business" as businesses within NAICS codes 31 through 33, which covers the manufacturing sector

State tax credit would be calculated as if the decedent's federal taxable estate did not include their ownership interest in qualifying Illinois manufacturing operations

Introduced by Senator Jil Tracy on January 28, 2026, with immediate effective date upon becoming law