Bill Text: IL HB3448 | 2015-2016 | 99th General Assembly | Engrossed

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Bill Title: Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Removes a requirement that Illinois transfer tax returns must be filed with the State Treasurer. Effective immediately.

Spectrum: Slight Partisan Bill (Democrat 3-1)

Status: (Engrossed - Dead) 2016-06-30 - Rule 19(a) / Re-referred to Rules Committee [HB3448 Detail]

Download: Illinois-2015-HB3448-Engrossed.html

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AN ACT concerning revenue.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Estate and Generation-Skipping
Transfer Tax Act is amended by changing Section 6 as follows:
(35 ILCS 405/6) (from Ch. 120, par. 405A-6)
Sec. 6. Returns and payments.
(a) Due Dates. The Illinois transfer tax shall be paid and
the Illinois transfer tax return shall be filed on the due date
or dates, respectively, including extensions, for paying the
federal transfer tax and filing the related federal return.
(b) Installment payments and deferral. In the event that
any portion of the federal transfer tax is deferred or to be
paid in installments under the provisions of the Internal
Revenue Code, the portion of the Illinois transfer tax which is
subject to deferral or payable in installments shall be
determined by multiplying the Illinois transfer tax by a
fraction, the numerator of which is the gross value of the
assets included in the transferred property having a tax situs
in this State and which give rise to the deferred or
installment payment under the Internal Revenue Code, and the
denominator of which is the gross value of all assets included
in the transferred property having a tax situs in this State.

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Deferred payments and installment payments, with interest,
shall be paid at the same time and in the same manner as
payments of the federal transfer tax are required to be made
under the applicable Sections of the Internal Revenue Code,
provided that the rate of interest on unpaid amounts of
Illinois transfer tax shall be determined under this Act.
Acceleration of payment under this Section shall occur under
the same circumstances and in the same manner as provided in
the Internal Revenue Code.
(c) Who shall file and pay. The Illinois transfer tax
return (including any supplemental or amended return) shall be
filed, and the Illinois transfer tax (including any additional
tax that may become due) shall be paid by the same person or
persons, respectively, who are required to pay the federal
transfer tax and file the federal return, or who would have
been required to pay a federal transfer tax and file a federal
return if a federal transfer tax were due.
(d) Where to file return. The executed Illinois transfer
tax return shall be filed with the Attorney General. In
addition, for payments made prior to July 1, 2012, a copy of
the Illinois transfer tax return shall be filed with the county
treasurer to whom the Illinois transfer tax is paid, determined
under subsection (e) of this Section, and, for payments made on
or after July 1, 2012, a copy of the Illinois transfer tax
return shall be filed with the State Treasurer.
(e) Where to pay tax. The Illinois transfer tax shall be

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paid according to the following rules:
(1) Illinois Estate Tax. Prior to July 1, 2012, the
Illinois estate tax shall be paid to the treasurer of the
county in which the decedent was a resident on the date of
the decedent's death or, if the decedent was not a resident
of this State on the date of death, the county in which the
greater part, by gross value, of the transferred property
with a tax situs in this State is located.
(2) Illinois Generation-Skipping Transfer Tax. Prior
to July 1, 2012, the Illinois generation-skipping transfer
tax involving transferred property from or in a resident
trust shall be paid to the county treasurer for the county
in which the grantor resided at the time the trust became
irrevocable (in the case of an inter vivos trust) or the
county in which the decedent resided at death (in the case
of a trust created by the will of a decedent). In the case
of an Illinois generation-skipping transfer tax involving
transferred property from or in a non-resident trust, the
Illinois generation-skipping transfer tax shall be paid to
the county treasurer for the county in which the greater
part, by gross value, of the transferred property with a
tax situs in this State is located.
(3) Payments on or after July 1, 2012. On or after July
1, 2012, both the Illinois estate tax and the Illinois
generation-skipping transfer tax shall be paid directly to
the State Treasurer.

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(f) Forms; confidentiality. The Illinois transfer tax
return shall be in all respects in the manner and form
prescribed by the regulations of the Attorney General. At the
same time the Illinois transfer tax return is filed, the person
required to file shall also file with the Attorney General a
copy of the related federal return. For individuals dying after
December 31, 2005, in cases where no federal return is required
to be filed, the person required to file an Illinois return
shall also file with the Attorney General schedules of assets
in the manner and form prescribed by the Attorney General. The
Illinois transfer tax return and the copy of the federal return
filed with the Attorney General, the county treasurer, or the
State Treasurer shall be confidential, and the Attorney
General, each county treasurer, and the State Treasurer and all
of their assistants or employees are prohibited from divulging
in any manner any of the contents of those returns, except only
in a proceeding instituted under the provisions of this Act.
(g) County Treasurer shall accept payment. Prior to July 1,
2012, no county treasurer shall refuse to accept payment of any
amount due under this Act on the grounds that the county
treasurer has not yet received a copy of the appropriate
Illinois transfer tax return.
(h) Beginning July 1, 2012, the State Treasurer shall not
refuse to accept payment of any amount due under this Act on
the grounds that the State Treasurer has not yet received a
copy of the appropriate Illinois transfer tax return.

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(Source: P.A. 97-732, eff. 6-30-12.)
Section 99. Effective date. This Act takes effect upon
becoming law.