IL SB1563 | 2019-2020 | 101st General Assembly
Status
Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - Session Sine Die
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Republican 3-0)
Status: Failed on January 13 2021 - 100% progression
Action: 2021-01-13 - 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, 2020, 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 |
|---|---|---|
| 2021-01-13 | Senate | Session Sine Die |
| 2019-03-28 | Senate | Rule 3-9(a) / Re-referred to Assignments |
| 2019-03-28 | Senate | Added as Co-Sponsor Sen. Jason A. Barickman |
| 2019-03-26 | Senate | Added as Co-Sponsor Sen. Paul Schimpf |
| 2019-03-22 | Senate | Rule 2-10 Committee Deadline Established As March 28, 2019 |
| 2019-03-06 | Senate | Postponed - Revenue |
| 2019-02-27 | Senate | Assigned to Revenue |
| 2019-02-15 | Senate | Referred to Assignments |
| 2019-02-15 | Senate | First Reading |
| 2019-02-15 | Senate | Filed with Secretary by Sen. Chuck Weaver |
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=1563&GAID=15&DocTypeID=SB&SessionID=108&GA=101 |
| Text | https://www.ilga.gov/legislation/101/SB/10100SB1563.htm |
