IllinoisHB4736104th General Assembly (2025–2026)House

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.

revenue & finance

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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

  • David Friess

    Republican • 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

  • Regan Deering

    Republican • House

  • Rick Ryan

    Democratic • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added Co-Sponsor Rep. David Friess

    10/22/2026House
  2. Added Co-Sponsor Rep. Regan Deering

    8/28/2026House
  3. Added Co-Sponsor Rep. Anna Moeller

    5/26/2026House
  4. Added Co-Sponsor Rep. Lindsey LaPointe

    5/26/2026House
  5. Added Co-Sponsor Rep. Dennis Tipsword

    4/8/2026House
  6. Added Co-Sponsor Rep. Jason R. Bunting

    3/30/2026House
  7. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  8. Added Co-Sponsor Rep. Nicolle Grasse

    3/24/2026House
  9. Added Co-Sponsor Rep. Michael J. Kelly

    3/24/2026House
  10. Added Co-Sponsor Rep. Kimberly Du Buclet

    3/24/2026House
  11. Added Co-Sponsor Rep. Rick Ryan

    3/24/2026House
  12. Added Co-Sponsor Rep. Michelle Mussman

    3/23/2026House
  13. Added Chief Co-Sponsor Rep. Jay Hoffman

    3/18/2026House
  14. Added Co-Sponsor Rep. Maurice A. West, II

    3/12/2026House
  15. Assigned to Revenue & Finance Committee

    3/12/2026House
  16. Added Co-Sponsor Rep. Dave Severin

    3/2/2026House
  17. Added Co-Sponsor Rep. Anthony DeLuca

    2/23/2026House
  18. Added Chief Co-Sponsor Rep. Dave Vella

    2/23/2026House
  19. Referred to Rules Committee

    2/6/2026House
  20. First Reading

    2/6/2026House
  21. Filed with the Clerk by Rep. Sharon Chung

    1/30/2026House

Bill Text

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