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, 2024, 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
in committee
1 of 4 stages cleared
Introduction
Feb 2023
Committee Review
Floor Vote
Governor
Introduced Feb 8, 2023
Last action Mar 10, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
0
Committee
3
Mar 10, 2023
Committee
Rule 3-9(a) / Re-referred to Assignments
lower
Feb 14, 2023
Committee
Assigned to Revenue
lower
Feb 8, 2023
Committee
Referred to Assignments
lower
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Tom Bennett
RRepublican
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