Bill Status of HB 3661   103rd General Assembly


Short Description:  ESTATE TAX-EXCLUSION AMT

House Sponsors
Rep. Ryan Spain, Tony M. McCombie and Michael J. Coffey, Jr.

Last Action  View All Actions

DateChamber Action
  2/17/2023HouseReferred to Rules Committee

Statutes Amended In Order of Appearance
35 ILCS 405/4.1 new

Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that a decedent dying on or after January 1, 2024 may, in a written revocable testamentary document, allocate all or a portion of the decedent's unused exclusion amount, including any deceased spousal unused exclusion amount that is available to the decedent, to one or more children of the decedent. Provides that, if such an allocation is made, the amount so allocated shall not be available to the decedent's surviving spouse as a deceased spousal unused exclusion amount. Effective immediately.

Actions 
DateChamber Action
  2/17/2023HouseFiled with the Clerk by Rep. Ryan Spain
  2/17/2023HouseFirst Reading
  2/17/2023HouseReferred to Rules Committee
  1/23/2024HouseAdded Co-Sponsor Rep. Tony M. McCombie
  3/18/2024HouseAdded Co-Sponsor Rep. Michael J. Coffey, Jr.

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