HB2368 - 104th General Assembly (2025-2026)
ESTATE TAX-COMPUTATION
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2026, the amount of the Illinois estate tax shall be the amount of the Illinois taxable estate, multiplied by the Illinois estate tax rate. Sets forth the estate tax rate. Provides that the "Illinois taxable estate" means the decedent's federal gross estate, subject to certain modifications, including a deduction in the amount of $4,000,000. Makes conforming changes with respect to the generation-skipping transfer tax. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/31/2025 | House | Filed with the Clerk by Rep. Margaret Croke |
| 2/04/2025 | House | First Reading |
| 2/04/2025 | House | Referred to Rules Committee |
| 2/25/2025 | House | Assigned to Revenue & Finance Committee |
| 3/03/2025 | House | To Tax Credit and Incentives Subcommittee |
| 3/04/2025 | House | Added Co-Sponsor Rep. Wayne A. Rosenthal |
| 3/05/2025 | House | Added Co-Sponsor Rep. Eva-Dina Delgado |
| 3/18/2025 | House | Added Co-Sponsor Rep. Michael J. Coffey, Jr. |
| 3/18/2025 | House | Removed Co-Sponsor Rep. Michael J. Coffey, Jr. |
| 3/21/2025 | House | Rule 19(a) / Re-referred to Rules Committee |
| 5/20/2025 | House | Motion Filed to Suspend Rule 21 Rules Committee; Rep. Bob Morgan |
| 5/20/2025 | House | Motion to Suspend Rule 21 - Prevailed 005-000-000 |