IllinoisSB2038104th General Assembly (2025–2026)Senate

ESTATE TAX-COMPUTATION

Sponsored By: Celina Villanueva (Democratic)

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 amount of the Illinois estate tax shall be the amount of the Illinois taxable estate, multiplied by the Illinois estate tax rate. Sets forth the estate tax rate. Provides that the "Illinois taxable estate" means the decedent's federal gross estate, subject to certain modifications, including a deduction in the amount of $4,000,000. Makes conforming changes with respect to the generation-skipping transfer tax. Effective immediately.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Celina Villanueva

    Democratic • Senate

Cosponsors

  • Rachel Ventura

    Democratic • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Rachel Ventura

    4/30/2025Senate
  2. Referred to Assignments

    2/6/2025Senate
  3. First Reading

    2/6/2025Senate
  4. Filed with Secretary by Sen. Celina Villanueva

    2/6/2025Senate

Bill Text

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