Sen. Michael E. Hastings

Filed: 5/15/2015

 

 


 

 


 
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1
AMENDMENT TO HOUSE BILL 3211

2    AMENDMENT NO. ______. Amend House Bill 3211 on page 2,
3below line 6, by inserting the following:
 
4    "Section 10. The Illinois Estate and Generation-Skipping
5Transfer Tax Act is amended by changing Section 6 as follows:
 
6    (35 ILCS 405/6)  (from Ch. 120, par. 405A-6)
7    Sec. 6. Returns and payments.
8    (a) Due Dates. The Illinois transfer tax shall be paid and
9the Illinois transfer tax return shall be filed on the due date
10or dates, respectively, including extensions, for paying the
11federal transfer tax and filing the related federal return.
12    (b) Installment payments and deferral. In the event that
13any portion of the federal transfer tax is deferred or to be
14paid in installments under the provisions of the Internal
15Revenue Code, the portion of the Illinois transfer tax which is
16subject to deferral or payable in installments shall be

 

 

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1determined by multiplying the Illinois transfer tax by a
2fraction, the numerator of which is the gross value of the
3assets included in the transferred property having a tax situs
4in this State and which give rise to the deferred or
5installment payment under the Internal Revenue Code, and the
6denominator of which is the gross value of all assets included
7in the transferred property having a tax situs in this State.
8Deferred payments and installment payments, with interest,
9shall be paid at the same time and in the same manner as
10payments of the federal transfer tax are required to be made
11under the applicable Sections of the Internal Revenue Code,
12provided that the rate of interest on unpaid amounts of
13Illinois transfer tax shall be determined under this Act.
14Acceleration of payment under this Section shall occur under
15the same circumstances and in the same manner as provided in
16the Internal Revenue Code.
17    (c) Who shall file and pay. The Illinois transfer tax
18return (including any supplemental or amended return) shall be
19filed, and the Illinois transfer tax (including any additional
20tax that may become due) shall be paid by the same person or
21persons, respectively, who are required to pay the federal
22transfer tax and file the federal return, or who would have
23been required to pay a federal transfer tax and file a federal
24return if a federal transfer tax were due.
25    (d) Where to file return. The executed Illinois transfer
26tax return shall be filed with the Attorney General. In

 

 

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1addition, for payments made prior to July 1, 2012, a copy of
2the Illinois transfer tax return shall be filed with the county
3treasurer to whom the Illinois transfer tax is paid, determined
4under subsection (e) of this Section, and, for payments made on
5or after July 1, 2012, a copy of the Illinois transfer tax
6return shall be filed with the State Treasurer.
7    (e) Where to pay tax. The Illinois transfer tax shall be
8paid according to the following rules:
9        (1) Illinois Estate Tax. Prior to July 1, 2012, the
10    Illinois estate tax shall be paid to the treasurer of the
11    county in which the decedent was a resident on the date of
12    the decedent's death or, if the decedent was not a resident
13    of this State on the date of death, the county in which the
14    greater part, by gross value, of the transferred property
15    with a tax situs in this State is located.
16        (2) Illinois Generation-Skipping Transfer Tax. Prior
17    to July 1, 2012, the Illinois generation-skipping transfer
18    tax involving transferred property from or in a resident
19    trust shall be paid to the county treasurer for the county
20    in which the grantor resided at the time the trust became
21    irrevocable (in the case of an inter vivos trust) or the
22    county in which the decedent resided at death (in the case
23    of a trust created by the will of a decedent). In the case
24    of an Illinois generation-skipping transfer tax involving
25    transferred property from or in a non-resident trust, the
26    Illinois generation-skipping transfer tax shall be paid to

 

 

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1    the county treasurer for the county in which the greater
2    part, by gross value, of the transferred property with a
3    tax situs in this State is located.
4        (3) Payments on or after July 1, 2012. On or after July
5    1, 2012, both the Illinois estate tax and the Illinois
6    generation-skipping transfer tax shall be paid directly to
7    the State Treasurer.
8    (f) Forms; confidentiality. The Illinois transfer tax
9return shall be in all respects in the manner and form
10prescribed by the regulations of the Attorney General. At the
11same time the Illinois transfer tax return is filed, the person
12required to file shall also file with the Attorney General a
13copy of the related federal return. For individuals dying after
14December 31, 2005, in cases where no federal return is required
15to be filed, the person required to file an Illinois return
16shall also file with the Attorney General schedules of assets
17in the manner and form prescribed by the Attorney General. The
18Illinois transfer tax return and the copy of the federal return
19filed with the Attorney General, the county treasurer, or the
20State Treasurer shall be confidential, and the Attorney
21General, each county treasurer, and the State Treasurer and all
22of their assistants or employees are prohibited from divulging
23in any manner any of the contents of those returns, except only
24in a proceeding instituted under the provisions of this Act.
25    (g) County Treasurer shall accept payment. Prior to July 1,
262012, no county treasurer shall refuse to accept payment of any

 

 

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1amount due under this Act on the grounds that the county
2treasurer has not yet received a copy of the appropriate
3Illinois transfer tax return.
4    (h) Beginning July 1, 2012, the State Treasurer shall not
5refuse to accept payment of any amount due under this Act on
6the grounds that the State Treasurer has not yet received a
7copy of the appropriate Illinois transfer tax return.
8(Source: P.A. 97-732, eff. 6-30-12.)
 
9    Section 99. Effective date. This Act takes effect upon
10becoming law.".