IllinoisSB2970104th General Assembly (2025–2026)Senate

ESTATE TAX-SPECIAL USE

Sponsored By: Doris Turner (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.

assignments

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Doris Turner

    Democratic • Senate

Cosponsors

  • Adriane L. Johnson

    Democratic • Senate

  • Andrew S. Chesney

    Republican • Senate

  • Chris Balkema

    Republican • Senate

  • Christopher Belt

    Democratic • Senate

  • Elgie R. Sims, Jr.

    Democratic • Senate

  • Erica Harriss

    Republican • Senate

  • Graciela Guzmán

    Democratic • Senate

  • Jason Plummer

    Republican • Senate

  • Javier L. Cervantes

    Democratic • Senate

  • Karina Villa

    Democratic • Senate

  • Linda Holmes

    Democratic • Senate

  • Mary Edly-Allen

    Democratic • Senate

  • Meg Loughran Cappel

    Democratic • Senate

  • Patrick J. Joyce

    Democratic • Senate

  • Paul Faraci

    Democratic • Senate

  • Rachel Ventura

    Democratic • Senate

  • Sally J. Turner

    Republican • Senate

  • Suzy Glowiak Hilton

    Democratic • Senate

  • Terri Bryant

    Republican • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Mary Edly-Allen

    5/30/2026Senate
  2. Added as Co-Sponsor Sen. Karina Villa

    5/30/2026Senate
  3. Added as Co-Sponsor Sen. Rachel Ventura

    5/30/2026Senate
  4. Added as Co-Sponsor Sen. Graciela Guzmán

    3/30/2026Senate
  5. Added as Co-Sponsor Sen. Adriane L. Johnson

    3/26/2026Senate
  6. Added as Co-Sponsor Sen. Elgie R. Sims, Jr.

    3/26/2026Senate
  7. Added as Co-Sponsor Sen. Erica Harriss

    3/26/2026Senate
  8. Added as Co-Sponsor Sen. Sally J. Turner

    3/19/2026Senate
  9. Added as Co-Sponsor Sen. Jason Plummer

    3/5/2026Senate
  10. Added as Co-Sponsor Sen. Chris Balkema

    3/3/2026Senate
  11. Added as Co-Sponsor Sen. Meg Loughran Cappel

    2/27/2026Senate
  12. Added as Co-Sponsor Sen. Andrew S. Chesney

    2/27/2026Senate
  13. Added as Co-Sponsor Sen. Christopher Belt

    2/26/2026Senate
  14. Added as Co-Sponsor Sen. Linda Holmes

    2/26/2026Senate
  15. Added as Co-Sponsor Sen. Paul Faraci

    2/26/2026Senate
  16. Added as Co-Sponsor Sen. Terri Bryant

    2/26/2026Senate
  17. Added as Chief Co-Sponsor Sen. Patrick J. Joyce

    2/25/2026Senate
  18. Added as Co-Sponsor Sen. Patrick J. Joyce

    2/25/2026Senate
  19. Added as Co-Sponsor Sen. Suzy Glowiak Hilton

    2/25/2026Senate
  20. Added as Co-Sponsor Sen. Javier L. Cervantes

    2/20/2026Senate
  21. Chief Sponsor Changed to Sen. Doris Turner

    1/29/2026Senate
  22. Referred to Assignments

    1/27/2026Senate
  23. First Reading

    1/27/2026Senate
  24. Filed with Secretary by Sen. Mattie Hunter

    1/27/2026Senate

Bill Text

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