IllinoisSB1735104th General Assembly (2025–2026)Senate

ESTATE TAX-PHASE OUT

Sponsored By: Jil Tracy (Republican)

In Committee

Summary

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that the amount of the taxes imposed under the Act shall be reduced in each year by 20%. Provides that no tax shall be imposed under the Act for persons dying on or after January 1, 2030 or for transfers occurring on or after January 1, 2030. Provides that the Act is repealed on January 1, 2031. 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

  • Donald P. DeWitte

    Republican • Senate

  • Patrick J. Joyce

    Democratic • Senate

  • Sally J. Turner

    Republican • Senate

  • Seth Lewis

    Republican • Senate

  • Terri Bryant

    Republican • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Chris Balkema

    4/2/2025Senate
  2. Added as Co-Sponsor Sen. Donald P. DeWitte

    2/20/2025Senate
  3. Added as Co-Sponsor Sen. Seth Lewis

    2/18/2025Senate
  4. Added as Co-Sponsor Sen. Sally J. Turner

    2/18/2025Senate
  5. Added as Co-Sponsor Sen. Terri Bryant

    2/6/2025Senate
  6. Added as Co-Sponsor Sen. Patrick J. Joyce

    2/6/2025Senate
  7. Referred to Assignments

    2/5/2025Senate
  8. First Reading

    2/5/2025Senate
  9. Filed with Secretary by Sen. Jil Tracy

    2/5/2025Senate

Bill Text

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