Bill Sponsors: IL HB4115 | 2023-2024 | 103rd General Assembly
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 is the greater of $12,900,000 or the applicable exclusion amount calculated under specified provisions of the Internal Revenue Code. Provides that the exclusion amount includes any deceased spousal unused exclusion amount available after a valid election is made under the Internal Revenue Code. Effective immediately.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB4115 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-04-05 - Rule 19(a) / Re-referred to Rules Committee [HB4115 Detail]
Text: Latest bill text (Introduced) [HTML]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Representative Dave Vella [D] | Primary | Sponsored Bills | HD-068 | FollowTheMoney | Ballotpedia | VoteSmart |