Bill Title: Amends the Illinois Estate and Generation-Skipping Transfer Tax. Provides that the State tax credit for the estates of persons dying after December 31, 2005 and on or before December 31, 2009 includes a reduction for qualified terminable interest property. Provides that the trustee of a trust for which a QTIP election is made may not retain non-income producing assets for more than a reasonable amount of time without the consent of the surviving spouse. Effective immediately.
Sponsorship: Partisan Bill (Democrat 1)
Status: (Passed) 2009-07-13 - Public Act . . . . . . . . . 96-0034
[HB0255 Detail]
Bill Drafts
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| Enrolled | Not Avail | HTML/Text | Link | View |
| Engrossed | Not Avail | HTML/Text | Link | View |
| Introduced | Not Avail | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
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| No bill amendments currently on file for Illinois HB0255 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
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| No supplemental documents for Illinois HB0255 currently on file. |
