ESTATE TAX-PHASE OUT Senate SponsorsSen. Jil Tracy, Patrick J. Joyce, Terri Bryant, Sally J. Turner, Seth Lewis, Donald P. DeWitte and Chris Balkema 2/5/2025SenateReferred to Assignments 35 ILCS 405/3from Ch. 120, par. 405A-335 ILCS 405/4from Ch. 120, par. 405A-435 ILCS 405/19 newAmends 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 Provides that the Act is repealed on January 1, 2031.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. 2/5/2025SenateFiled with Secretary by Sen. Jil Tracy 2/5/2025SenateFirst Reading 2/5/2025SenateReferred to Assignments 2/6/2025SenateAdded as Co-Sponsor Sen. Patrick J. Joyce 2/6/2025SenateAdded as Co-Sponsor Sen. Terri Bryant 2/18/2025SenateAdded as Co-Sponsor Sen. Sally J. Turner 2/18/2025SenateAdded as Co-Sponsor Sen. Seth Lewis 2/20/2025SenateAdded as Co-Sponsor Sen. Donald P. DeWitte 4/2/2025SenateAdded as Co-Sponsor Sen. Chris Balkema