Bill Status of SB1735

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SB1735 - 104th General Assembly

ESTATE TAX-PHASE OUT
Last Action
2/05/2025 - Senate: Referred to Assignments
Statutes Amended In Order of Appearance
35 ILCS 405/3from Ch. 120, par. 405A-3
35 ILCS 405/4from Ch. 120, par. 405A-4
35 ILCS 405/19 new
Synopsis As Introduced
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 Provides that the Act is repealed on January 1, 2031.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.
Actions
Date Chamber Action
2/05/2025 Senate Filed with Secretary by Sen. Jil Tracy
2/05/2025 Senate First Reading
2/05/2025 Senate Referred to Assignments
2/06/2025 Senate Added as Co-Sponsor Sen. Patrick J. Joyce
2/06/2025 Senate Added as Co-Sponsor Sen. Terri Bryant
2/18/2025 Senate Added as Co-Sponsor Sen. Sally J. Turner
2/18/2025 Senate Added as Co-Sponsor Sen. Seth Lewis
2/20/2025 Senate Added as Co-Sponsor Sen. Donald P. DeWitte
4/02/2025 Senate Added as Co-Sponsor Sen. Chris Balkema