Bill Status of HB 1940   102nd General Assembly

Short Description:  ESTATE TAX-EXCLUSION AMOUNT

House Sponsors
Rep. Tony McCombie, Joe Sosnowski, David A. Welter and Keith R. Wheeler

Last Action  View All Actions

DateChamber Action
  1/10/2023HouseSession Sine Die

Statutes Amended In Order of Appearance
35 ILCS 405/2from Ch. 120, par. 405A-2

Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2022, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.

Actions 
DateChamber Action
  2/16/2021HouseFiled with the Clerk by Rep. Tony McCombie
  2/17/2021HouseFirst Reading
  2/17/2021HouseReferred to Rules Committee
  3/9/2021HouseAssigned to Revenue & Finance Committee
  3/18/2021HouseTo Sales, Amusement, & Other Taxes Subcommittee
  3/27/2021HouseRule 19(a) / Re-referred to Rules Committee
  2/23/2022HouseAdded Co-Sponsor Rep. Joe Sosnowski
  3/15/2022HouseAdded Co-Sponsor Rep. David A. Welter
  3/30/2022HouseAdded Co-Sponsor Rep. Keith R. Wheeler
  1/10/2023HouseSession Sine Die

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