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IL SB3787

Bill

Official Source

Status

Introduced

2/5/2026

Primary Sponsor

Jil Tracy

Click for details

Origin

Senate

104th General Assembly

AI Summary

  • Increases the Illinois estate tax exclusion amount from the current $4,000,000 to match the federal applicable exclusion amount for persons dying on or after January 1, 2027
  • Ties the Illinois exclusion to IRC Section 2010, incorporating annual inflation adjustments that apply to the federal exclusion
  • Allows surviving spouses to use any deceased spousal unused exclusion amount (portability), aligning with federal estate tax treatment
  • Amends the Illinois Estate and Generation-Skipping Transfer Tax Act (35 ILCS 405/2)
  • Takes effect immediately upon becoming law

Legislative Description

ESTATE TAX-EXCLUSION AMOUNT

Last Action

Added as Co-Sponsor Sen. Donald P. DeWitte

3/10/2026

Committee Referrals

Assignments2/5/2026

Full Bill Text

No bill text available