HB2865 - 104th General Assembly (2025-2026)
ESTATE TAX-PHASE OUT
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 the amount of the taxes imposed under the Act shall be reduced in each year by 20%. Provides that no tax shall be imposed under the Act for persons dying on or after January 1, 2030 or for transfers occurring on or after January 1, 2030. Provides that the Act is repealed on January 1, 2031. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 2/05/2025 | House | Filed with the Clerk by Rep. Joe C. Sosnowski |
| 2/06/2025 | House | First Reading |
| 2/06/2025 | House | Referred to Rules Committee |
| 3/04/2025 | House | Assigned to Revenue & Finance Committee |
| 3/06/2025 | House | To Tax Policy: Other Taxes Subcommittee |
| 3/06/2025 | House | Added Co-Sponsor Rep. Michael J. Coffey, Jr. |
| 3/20/2025 | House | Added Co-Sponsor Rep. Charles Meier |
| 3/21/2025 | House | Rule 19(a) / Re-referred to Rules Committee |