IL HB2993

Bill

IL HB2993

ESTATE TAX-EXCLUSION AMT

Introduced
02/16/2023

In Committee
03/10/2023

Crossed Over

Passed

Dead
01/08/2025

Introduced Session

103rd General Assembly

Bill Summary

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Increases the exclusion amount from $4,000,000 to $12,060,000 for persons dying on or after January 1, 2024. Effective immediately.

AI Summary

This bill amends the Illinois Estate and Generation-Skipping Transfer Tax Act to increase the estate tax exclusion amount from $4,000,000 to $12,060,000 for persons dying on or after January 1, 2024. The bill also includes language recognizing the increased exclusion amount in the definition of "State tax credit" in the existing law. The changes made by this bill take effect immediately.

Committee Categories

Budget and Finance

Sponsors (3)

Norine Hammond (R)*, Mike Coffey (R), Tony McCombie (R),

Last Action

Session Sine Die (on 01/07/2025)

Official Document

https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2993&GAID=17&DocTypeID=HB&SessionID=112&GA=103

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=2993&GAID=17&DocTypeID=HB&SessionID=112&GA=103
BillText	https://www.ilga.gov/legislation/103/HB/10300HB2993.htm

Bill	Bill Name	Last Action	Type
HB0336	ESTATE TAX-EXCLUSION AMOUNT	Rule 19(a) / Re-referred to Rules Committee	Reintroduced
HB1940	ESTATE TAX-EXCLUSION AMOUNT	Added Co-Sponsor Rep. Keith R. Wheeler	Reintroduced
HB3427	ESTATE TAX-EXCLUSION AMOUNT	Added Co-Sponsor Rep. Anna Moeller	Reintroduced
HB4330	ESTATE TAX-EXCLUSION AMOUNT	Rule 19(a) / Re-referred to Rules Committee	Reintroduced
HB5230	ESTATE TAX-EXCLUSION AMT	Added Co-Sponsor Rep. Chris Miller	Reintroduced

Bill > HB2993

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary