summary
Introduced
02/05/2026
02/05/2026
In Committee
02/05/2026
02/05/2026
Crossed Over
Passed
Dead
Introduced Session
104th General Assembly
Bill Summary
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2027, if a valid election has been made under the Internal Revenue Code allowing a person to take into account a federal deceased spousal unused exclusion amount for the purposes of calculating the person's federal estate tax, then the person's Illinois exclusion amount shall include the Illinois deceased spousal unused exclusion amount for the deceased spouse with respect to whom the federal election was made. Effective immediately.
AI Summary
This bill amends the Illinois Estate and Generation-Skipping Transfer Tax Act to allow for a "deceased spousal unused exclusion amount" to be included in an individual's Illinois estate tax exclusion. This means that for individuals who die on or after January 1, 2027, if their deceased spouse's estate made a specific election under federal tax law (Internal Revenue Code) to transfer unused estate tax exclusion to the surviving spouse, then that unused exclusion amount will also be recognized for Illinois estate tax purposes. This provision aims to align Illinois estate tax treatment with federal estate tax rules regarding unused exclusions from a deceased spouse, providing a potential benefit to surviving spouses by increasing the amount of their estate that can be passed on tax-free.
Sponsors (1)
Last Action
Referred to Assignments (on 02/05/2026)
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