IL HB4321 | 2019-2020 | 101st General Assembly
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 28 2020 - 25% progression, died in committee
Action: 2020-02-04 - Added Co-Sponsor Rep. Darren Bailey
Pending: House Rules Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 28 2020 - 25% progression, died in committee
Action: 2020-02-04 - Added Co-Sponsor Rep. Darren Bailey
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, 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.
Title
ESTATE TAX-EXCLUSION AMOUNT
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2020-02-04 | House | Added Co-Sponsor Rep. Darren Bailey |
| 2020-01-29 | House | Referred to Rules Committee |
| 2020-01-29 | House | First Reading |
| 2020-01-28 | House | Filed with the Clerk by Rep. Tony McCombie |
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=4321&GAID=15&DocTypeID=HB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/HB/10100HB4321.htm |
