Bill Status of HB2865

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HB2865 - 104th General Assembly

ESTATE TAX-PHASE OUT
Last Action
3/21/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
35 ILCS 405/3from Ch. 120, par. 405A-3
35 ILCS 405/4from Ch. 120, par. 405A-4
35 ILCS 405/19 new
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 Provides that the Act is repealed on January 1, 2031.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