IL SB2630 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 12-0)
Status: Introduced on October 26 2023 - 25% progression
Action: 2024-02-28 - Added as Co-Sponsor Sen. Erica Harriss
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on October 26 2023 - 25% progression
Action: 2024-02-28 - Added as Co-Sponsor Sen. Erica Harriss
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2025, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code as that Section exists on the effective date of the amendatory Act, including the inflation adjustment and including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.
Title
ESTATE TAX-EXCLUSION AMOUNT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2024-02-28 | Senate | Added as Co-Sponsor Sen. Erica Harriss |
| 2024-02-20 | Senate | Added as Chief Co-Sponsor Sen. Jason Plummer |
| 2024-02-09 | Senate | Added as Co-Sponsor Sen. Sue Rezin |
| 2024-02-07 | Senate | Added as Co-Sponsor Sen. Seth Lewis |
| 2024-02-06 | Senate | Added as Co-Sponsor Sen. John F. Curran |
| 2024-02-06 | Senate | Added as Co-Sponsor Sen. Win Stoller |
| 2024-02-05 | Senate | Added as Co-Sponsor Sen. Donald P. DeWitte |
| 2024-01-30 | Senate | Added as Co-Sponsor Sen. Sally J. Turner |
| 2024-01-30 | Senate | Added as Co-Sponsor Sen. Dave Syverson |
| 2024-01-29 | Senate | Added as Co-Sponsor Sen. Neil Anderson |
| 2024-01-17 | Senate | Added as Chief Co-Sponsor Sen. Tom Bennett |
| 2023-10-26 | Senate | Referred to Assignments |
| 2023-10-26 | Senate | First Reading |
| 2023-10-26 | Senate | Filed with Secretary by Sen. Jil Tracy |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 405 | 2 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2630&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB2630.htm |
