IL HB2368 | 2025-2026 | 104th General Assembly
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 31 2025 - 25% progression
Action: 2025-02-04 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 31 2025 - 25% progression
Action: 2025-02-04 - Referred to Rules Committee
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2026, the amount of the Illinois estate tax shall be the amount of the Illinois taxable estate, multiplied by the Illinois estate tax rate. Sets forth the estate tax rate. Provides that the "Illinois taxable estate" means the decedent's federal gross estate, subject to certain modifications, including a deduction in the amount of $4,000,000. Makes conforming changes with respect to the generation-skipping transfer tax. Effective immediately.
Title
ESTATE TAX-COMPUTATION
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2025-02-04 | House | Referred to Rules Committee |
| 2025-02-04 | House | First Reading |
| 2025-01-31 | House | Filed with the Clerk by Rep. Margaret Croke |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 405 | 2 | Amended Code | Citation Text |
| 35 | 405 | 3 | Amended Code | Citation Text |
| 35 | 405 | 4 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2368&GAID=18&DocTypeID=HB&SessionID=114&GA=104 |
| Text | https://www.ilga.gov/legislation/104/HB/10400HB2368.htm |
