Illinois House Bill 4519 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 4-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024 and prior to January 1, 2026, the exclusion amount shall be the applicable exclusion amount calculated under the Internal Revenue Code (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Provides that, for persons dying on or after January 1, 2026, the exclusion amount shall be the greater of (i) the applicable exclusion amount calculated under the Internal Revenue Code or (ii) the exclusion amount amount that would have been calculated under the Internal Revenue Code if the decedent had died in calendar year 2025. Effective immediately.

ESTATE TAX-EXCLUSION AMOUNT

Rep. Ryan Spain [R]

Rep. Tony McCombie [R]

Rep. Jackie Haas [R]

Rep. Mike Coffey [R]

Date	Chamber	Action
2025-01-07	House	Session Sine Die
2024-03-18	House	Added Co-Sponsor Rep. Michael J. Coffey, Jr.
2024-02-20	House	Added Co-Sponsor Rep. Jackie Haas
2024-01-31	House	Referred to Rules Committee
2024-01-31	House	First Reading
2024-01-23	House	Added Co-Sponsor Rep. Tony M. McCombie
2024-01-19	House	Filed with the Clerk by Rep. Ryan Spain

Chapter	Article	Section	Citation Type	Statute Text
35	405	2	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4519&GAID=17&DocTypeID=HB&SessionID=112&GA=103
Text	https://www.ilga.gov/legislation/103/HB/10300HB4519.htm