Bill Title: Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2021, 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: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2020-02-04 - Added Co-Sponsor Rep. Darren Bailey
[HB4321 Detail]
Bill Drafts
| Revision | Date | Format | Source | View |
|---|
| Introduced | 2020-01-28 | HTML/Text | Link | View |
Amendments
| Amendment | Date | Disposition | Format | Source | View |
|---|
| No bill amendments currently on file for Illinois HB4321 |
Supplemental Documents
| Title | Description | Date | Format | Source | View |
|---|
| No supplemental documents for Illinois HB4321 currently on file. |
Social Comments on IL HB4321
