Illinois General Assembly - Bill Status for SB1533
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 Bill Status of SB1533  103rd General Assembly


Short Description:  ESTATE TAX-EXCLUSION AMOUNT

Senate Sponsors
Sen. Tom Bennett and Lakesia Collins

Last Action
DateChamber Action
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments

Statutes Amended In Order of Appearance
35 ILCS 405/2from Ch. 120, par. 405A-2


Synopsis As Introduced
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.

Actions 
DateChamber Action
  2/8/2023SenateFiled with Secretary by Sen. Tom Bennett
  2/8/2023SenateFirst Reading
  2/8/2023SenateReferred to Assignments
  2/14/2023SenateAssigned to Revenue
  3/10/2023SenateRule 3-9(a) / Re-referred to Assignments
  3/12/2024SenateAdded as Co-Sponsor Sen. Lakesia Collins

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