IL HB4115 | 2023-2024 | 103rd General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: Failed on January 7 2025 - 100% progression
Action: 2025-01-07 - Session Sine Die
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, 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.
Title
ESTATE TAX-EXCLUSION AMT
Sponsors
| Rep. Dave Vella [D] |
History
| Date | Chamber | Action |
|---|---|---|
| 2025-01-07 | House | Session Sine Die |
| 2024-04-05 | House | Rule 19(a) / Re-referred to Rules Committee |
| 2024-03-08 | House | To Revenue-Income Tax Subcommittee |
| 2024-01-31 | House | Assigned to Revenue & Finance Committee |
| 2023-10-18 | House | Referred to Rules Committee |
| 2023-10-18 | House | First Reading |
| 2023-07-31 | House | Filed with the Clerk by Rep. Dave Vella |
Code Citations
| Chapter | Article | Section | Citation Type | Statute Text |
|---|---|---|---|---|
| 35 | 405 | 2 | Amended Code | Citation Text |
Illinois State Sources
| Type | Source |
|---|---|
| Summary | https://www.ilga.gov/legislation/BillStatus.asp?DocNum=4115&GAID=17&DocTypeID=HB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/HB/10300HB4115.htm |
