Comments: IL HB3661 | 2023-2024 | 103rd General Assembly
Bill Title: 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.
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced) 2024-03-18 - Added Co-Sponsor Rep. Michael J. Coffey, Jr. [HB3661 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 3-0)
Status: (Introduced) 2024-03-18 - Added Co-Sponsor Rep. Michael J. Coffey, Jr. [HB3661 Detail]
Text: Latest bill text (Introduced) [HTML]
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