Illinois General Assembly - Bill Status for SB2581

Illinois General Assembly - Bill Status for SB2581

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Bill Status of SB2581 103rd General Assembly

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Short Description: ESTATE TAX-EXCLUSION AMOUNT

Senate Sponsors
Sen. David Koehler - Jil Tracy - Paul Faraci - Tom Bennett - Doris Turner, Jason Plummer, Sally J. Turner, Sara Feigenholtz, Michael W. Halpin and Dave Syverson

Last Action

Date	Chamber	Action
5/11/2023	Senate	Referred to Assignments

Statutes Amended In Order of Appearance

from 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, 2024, 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

Date	Chamber	Action
5/11/2023	Senate	Filed with Secretary by Sen. David Koehler
5/11/2023	Senate	First Reading
5/11/2023	Senate	Referred to Assignments
9/5/2023	Senate	Added as Chief Co-Sponsor Sen. Jil Tracy
9/7/2023	Senate	Added as Chief Co-Sponsor Sen. Paul Faraci
9/8/2023	Senate	Added as Chief Co-Sponsor Sen. Tom Bennett
9/13/2023	Senate	Added as Chief Co-Sponsor Sen. Doris Turner
9/20/2023	Senate	Added as Co-Sponsor Sen. Jason Plummer
10/2/2023	Senate	Added as Co-Sponsor Sen. Sally J. Turner
10/11/2023	Senate	Added as Co-Sponsor Sen. Sara Feigenholtz
11/2/2023	Senate	Added as Co-Sponsor Sen. Michael W. Halpin
2/16/2024	Senate	Added as Co-Sponsor Sen. Dave Syverson