IllinoisHB1731104th General Assembly (2025–2026)House

ESTATE TAX THRESHOLD FIX

Sponsored By: Ryan Spain (Republican)

In Committee

Summary

Specifies that the amendatory Act may be referred to as the Estate Tax Inflation Law. Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2026, if a valid election has been made under the Internal Revenue Code allowing a person to take into account a federal deceased spousal unused exclusion amount for the purposes of calculating the person's federal estate tax, then the person's Illinois exclusion amount shall include the Illinois deceased spousal unused exclusion amount for the deceased spouse with respect to whom the federal election was made. Provides that the exclusion amount used to calculate the decedent's Illinois estate tax shall be increased each year by the percentage increase, if any, in the Consumer Price Index. Provides that, for the purpose of calculating the Illinois Estate Tax, the State Death Tax Credit shall be calculated only on the portion of the decedent's adjusted taxable estate that exceeds the decedent's Illinois exclusion amount. Effective immediately.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Ryan Spain

    Republican • House

Cosponsors

  • Brandun Schweizer

    Republican • House

  • Jackie Haas

    Republican • House

  • Norine K. Hammond

    Republican • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. Brandun Schweizer

    7/15/2025House
  2. Rule 19(a) / Re-referred to Rules Committee

    3/21/2025House
  3. Added Co-Sponsor Rep. Norine K. Hammond

    3/5/2025House
  4. Added Co-Sponsor Rep. Jackie Haas

    3/5/2025House
  5. To Tax Policy: Income Tax Subcommittee

    3/3/2025House
  6. Assigned to Revenue & Finance Committee

    2/18/2025House
  7. Referred to Rules Committee

    1/28/2025House
  8. First Reading

    1/28/2025House
  9. Filed with the Clerk by Rep. Ryan Spain

    1/24/2025House

Bill Text

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