Illinois General Assembly - Bill Status for HB2368

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
2/4/2025	House	First Reading
2/4/2025	House	Referred to Rules Committee
2/25/2025	House	Assigned to Revenue & Finance Committee
3/3/2025	House	To Tax Credit and Incentives Subcommittee
3/4/2025	House	Added Co-Sponsor Rep. Wayne A. Rosenthal
3/5/2025	House	Added Co-Sponsor Rep. Eva-Dina Delgado
3/18/2025	House	Added Co-Sponsor Rep. Michael J. Coffey, Jr.
3/21/2025	House	Rule 19(a) / Re-referred to Rules Committee

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