Bill Status of HB2368

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HB2368 - 104th General Assembly

ESTATE TAX-COMPUTATION
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
35 ILCS 405/2from Ch. 120, par. 405A-2
35 ILCS 405/3from Ch. 120, par. 405A-3
35 ILCS 405/4from Ch. 120, par. 405A-4
Synopsis As Introduced
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.
Actions
Date Chamber Action
1/31/2025 House Filed with the Clerk by Rep. Margaret Croke
2/04/2025 House First Reading
2/04/2025 House Referred to Rules Committee
2/25/2025 House Assigned to Revenue & Finance Committee
3/03/2025 House To Tax Credit and Incentives Subcommittee
3/04/2025 House Added Co-Sponsor Rep. Wayne A. Rosenthal
3/05/2025 House Added Co-Sponsor Rep. Eva-Dina Delgado
3/18/2025 House Added Co-Sponsor Rep. Michael J. Coffey, Jr.
3/18/2025 House Removed Co-Sponsor Rep. Michael J. Coffey, Jr.
3/21/2025 House Rule 19(a) / Re-referred to Rules Committee
5/20/2025 House Motion Filed to Suspend Rule 21 Rules Committee; Rep. Bob Morgan
5/20/2025 House Motion to Suspend Rule 21 - Prevailed 005-000-000