Bill Status of SB2125  102nd General Assembly


Short Description:  ESTATE TAX-EXCLUSION AMOUNT

Senate Sponsors
Sen. Robert Peters - Mike Simmons, Ram Villivalam and Omar Aquino

Last Action
DateChamber Action
  2/26/2021SenateReferred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 405/2from Ch. 120, par. 405A-2


Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that the exclusion amount is $2,000,000 for persons dying on or after January 1, 2022 (currently, $4,000,000). Effective immediately.

Actions 
DateChamber Action
  2/26/2021SenateFiled with Secretary by Sen. Robert Peters
  2/26/2021SenateFirst Reading
  2/26/2021SenateReferred to Assignments
  4/21/2021SenateAdded as Chief Co-Sponsor Sen. Mike Simmons
  5/7/2021SenateAdded as Co-Sponsor Sen. Ram Villivalam
  5/17/2021SenateAdded as Co-Sponsor Sen. Omar Aquino