IL SB1533 | 2023-2024 | 103rd General Assembly
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 8 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on February 8 2023 - 25% progression
Action: 2023-03-10 - Rule 3-9(a) / Re-referred to Assignments
Pending: Senate Assignments 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, 2024, 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 |
|---|---|---|
| 2023-03-10 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2023-02-14 | Senate | Assigned to Revenue |
| 2023-02-08 | Senate | Referred to Assignments |
| 2023-02-08 | Senate | First Reading |
| 2023-02-08 | Senate | Filed with Secretary by Sen. Tom Bennett |
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=1533&GAID=17&DocTypeID=SB&SessionID=112&GA=103 |
| Text | https://www.ilga.gov/legislation/103/SB/10300SB1533.htm |
