Bill Status of HB0012  104th General Assembly

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Short Description:  ESTATE TX-EXCLUSION AMOUNT

House Sponsors
Rep. Dave Severin, Tony M. McCombie and Jay Hoffman

Hearings

Tax Policy: Other Taxes Subcommittee Hearing Mar 20 2025 8:08AM Capitol Building 114 and Virtual Room 1 Springfield, IL Tax Policy: Other Taxes Subcommittee Hearing Mar 20 2025 2:08PM Stratton Building Room D-1 Springfield, IL Revenue & Finance Committee Hearing Mar 20 2025 8:00AM Capitol Building 114 and Virtual Room 1 Springfield, IL Revenue & Finance Committee Hearing Mar 20 2025 2:00PM Stratton Building Room D-1 Springfield, IL

Last Action

Date	Chamber	Action
2/25/2025	House	To Tax Policy: Other Taxes Subcommittee

Statutes Amended In Order of Appearance

35 ILCS 405/2

from Ch. 120, par. 405A-2

Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Increases the exclusion amount from $4,000,000 to $6,000,000 for persons dying on or after January 1, 2026. Effective immediately.

Actions 

Date	Chamber	Action
12/4/2024	House	Prefiled with Clerk by Rep. Dave Severin
1/9/2025	House	First Reading
1/9/2025	House	Referred to Rules Committee
1/15/2025	House	Added Co-Sponsor Rep. Tony M. McCombie
2/4/2025	House	Assigned to Revenue & Finance Committee
2/7/2025	House	Added Co-Sponsor Rep. Jay Hoffman
2/25/2025	House	To Tax Policy: Other Taxes Subcommittee