Bill Title: 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.

Spectrum: Bipartisan Bill

Status: (Introduced) 2024-02-16 - Added as Co-Sponsor Sen. Dave Syverson [SB2581 Detail]

Text: Latest bill text (Introduced) [HTML]

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