ESTATE TAX-SPOUSAL EXCLUSION
Sponsored By: Jil Tracy (Republican)
In Committee
Summary
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. Effective immediately.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Jil Tracy
Republican • Senate
Cosponsors
Chris Balkema
Republican • Senate
Dale Fowler
Republican • Senate
Donald P. DeWitte
Republican • Senate
Jason Plummer
Republican • Senate
Sue Rezin
Republican • Senate
Terri Bryant
Republican • Senate
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Added as Co-Sponsor Sen. Dale Fowler
5/21/2025SenateAdded as Co-Sponsor Sen. Chris Balkema
5/20/2025SenateAdded as Co-Sponsor Sen. Sue Rezin
5/6/2025SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
2/20/2025SenateAdded as Co-Sponsor Sen. Jason Plummer
2/7/2025SenateAdded as Co-Sponsor Sen. Terri Bryant
2/6/2025SenateReferred to Assignments
1/17/2025SenateFirst Reading
1/17/2025SenateFiled with Secretary by Sen. Jil Tracy
1/17/2025Senate
Bill Text
Introduced
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