Bill Status of HB5753 100th General Assembly
Short Description: ESTATE TAX-FARM PROPERTY
Rep. Natalie Phelps Finnie
| 1/8/2019||House||Session Sine Die|
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, 2019, if the decedent's taxable estate contains a farm, the exclusion amount shall be the applicable exclusion amount under Section 2010 of the Internal Revenue Code. Effective immediately.