ESTATE TAX-EXCLUSION AMOUNT
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, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code as that Section exists on the effective date of the amendatory Act, including the inflation adjustment and including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). 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
Craig Wilcox
Republican • Senate
Dale Fowler
Republican • Senate
Donald P. DeWitte
Republican • Senate
Jason Plummer
Republican • Senate
Sally J. Turner
Republican • Senate
Seth Lewis
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. Craig Wilcox
10/30/2025SenateAdded as Co-Sponsor Sen. Dale Fowler
5/21/2025SenateAdded as Co-Sponsor Sen. Sue Rezin
5/6/2025SenateAdded as Co-Sponsor Sen. Donald P. DeWitte
2/20/2025SenateAdded as Chief Co-Sponsor Sen. Chris Balkema
2/20/2025SenateAdded as Co-Sponsor Sen. Seth Lewis
2/18/2025SenateAdded as Co-Sponsor Sen. Sally J. Turner
2/18/2025SenateAdded 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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