Illinois General Assembly - Bill Status for HB4115

Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024, the exclusion amount is the greater of $12,900,000 or the applicable exclusion amount calculated under specified provisions of the Internal Revenue Code. Provides that the exclusion amount includes any deceased spousal unused exclusion amount available after a valid election is made under the Internal Revenue Code. Effective immediately.

Actions

Date	Chamber	Action
7/31/2023	House	Filed with the Clerk by Rep. Dave Vella
10/18/2023	House	First Reading
10/18/2023	House	Referred to Rules Committee
1/31/2024	House	Assigned to Revenue & Finance Committee
3/8/2024	House	To Revenue-Income Tax Subcommittee
4/5/2024	House	Rule 19(a) / Re-referred to Rules Committee

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