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IL SB3847
Bill
Status
Introduced
2/6/2026
Primary Sponsor
John Curran
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AI Summary
- Raises the Illinois estate tax exclusion amount from $4,000,000 to $8,000,000 for persons dying on or after January 1, 2027
- Requires annual inflation adjustments to the $8,000,000 exclusion amount beginning January 1, 2028, following the federal Internal Revenue Code formula
- Allows surviving spouses to include any deceased spousal unused exclusion amount (portability) after making a valid federal election
- Amends the Illinois Estate and Generation-Skipping Transfer Tax Act and takes effect immediately upon becoming law
Legislative Description
ESTATE TAX-EXCLUSION AMOUNT
Last Action
Referred to Assignments
2/6/2026
Committee Referrals
Assignments2/6/2026
Full Bill Text
No bill text available