Illinois House Bill 3661

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Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on February 17 2023 - 25% progression
Action: 2024-03-18 - Added Co-Sponsor Rep. Michael J. Coffey, Jr.
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that a decedent dying on or after January 1, 2024 may, in a written revocable testamentary document, allocate all or a portion of the decedent's unused exclusion amount, including any deceased spousal unused exclusion amount that is available to the decedent, to one or more children of the decedent. Provides that, if such an allocation is made, the amount so allocated shall not be available to the decedent's surviving spouse as a deceased spousal unused exclusion amount. Effective immediately.

ESTATE TAX-EXCLUSION AMT

Rep. Ryan Spain [R]

Rep. Tony McCombie [R]

Rep. Mike Coffey [R]

Date	Chamber	Action
2024-03-18	House	Added Co-Sponsor Rep. Michael J. Coffey, Jr.
2024-01-23	House	Added Co-Sponsor Rep. Tony M. McCombie
2023-02-17	House	Referred to Rules Committee
2023-02-17	House	First Reading
2023-02-17	House	Filed with the Clerk by Rep. Ryan Spain

Chapter	Article	Section	Citation Type	Statute Text
35	405	4.1	New Code	See Bill Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=3661&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB3661.htm