ESTATE TAX-SPECIAL USE
Sponsored By: Sharon Chung (Democratic)
In Committee
Summary
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Makes changes concerning the taxes due under the Act on estates that contain qualified farm property. Provides that, for the purposes of calculating the State Death Tax Credit, those estates are subject to an exemption of $6,000,000 (rather than an exclusion amount of $4,000,000), which shall be deducted from the net estate value after the net estate value is computed in accordance with the Act. Provides that the exemption shall be adjusted each year according to the increase in the Consumer Price Index. Makes changes concerning the calculation of the deceased spousal unused exclusion amount for those estates. Provides for a special use valuation to provide that the value of the qualified farm property shall be calculated without regard to certain limitations under the Internal Revenue Code. Makes changes concerning the definition of "qualified heir". Effective January 1, 2027.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Sharon Chung
Democratic • House
Cosponsors
Anna Moeller
Democratic • House
Anthony DeLuca
Democratic • House
Dave Severin
Republican • House
Dave Vella
Democratic • House
Dennis Tipsword
Republican • House
Jason R. Bunting
Republican • House
Jay Hoffman
Democratic • House
Kimberly Du Buclet
Democratic • House
Lindsey LaPointe
Democratic • House
Maurice A. West, II
Democratic • House
Michael J. Kelly
Democratic • House
Michelle Mussman
Democratic • House
Nicolle Grasse
Democratic • House
Rick Ryan
Democratic • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Added Co-Sponsor Rep. Anna Moeller
5/26/2026HouseAdded Co-Sponsor Rep. Lindsey LaPointe
5/26/2026HouseAdded Co-Sponsor Rep. Dennis Tipsword
4/8/2026HouseAdded Co-Sponsor Rep. Jason R. Bunting
3/30/2026HouseRule 19(a) / Re-referred to Rules Committee
3/27/2026HouseAdded Co-Sponsor Rep. Nicolle Grasse
3/24/2026HouseAdded Co-Sponsor Rep. Michael J. Kelly
3/24/2026HouseAdded Co-Sponsor Rep. Kimberly Du Buclet
3/24/2026HouseAdded Co-Sponsor Rep. Rick Ryan
3/24/2026HouseAdded Co-Sponsor Rep. Michelle Mussman
3/23/2026HouseAdded Chief Co-Sponsor Rep. Jay Hoffman
3/18/2026HouseAdded Co-Sponsor Rep. Maurice A. West, II
3/12/2026HouseAssigned to Revenue & Finance Committee
3/12/2026HouseAdded Co-Sponsor Rep. Dave Severin
3/2/2026HouseAdded Co-Sponsor Rep. Anthony DeLuca
2/23/2026HouseAdded Chief Co-Sponsor Rep. Dave Vella
2/23/2026HouseReferred to Rules Committee
2/6/2026HouseFirst Reading
2/6/2026HouseFiled with the Clerk by Rep. Sharon Chung
1/30/2026House
Bill Text
Introduced
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