HB 1940 Illinois House · 102nd Regular Session

ESTATE TAX-EXCLUSION AMOUNT

Summary

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2022, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.

Bill status failed 1 of 4 stages cleared

Introduction

Feb 2021

Committee Review

Floor Vote

Governor

Introduced Feb 16, 2021 Last action Jan 10, 2023

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Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 27, 2021

Committee

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

lower

Mar 18, 2021

Lower · Passed

To Sales, Amusement, & Other Taxes Subcommittee

lower

Mar 9, 2021

Committee

Assigned to Revenue & Finance Committee

lower

Feb 17, 2021

Committee

Referred to Rules Committee

lower

1 primary · 3 co-sponsors