Senate Sponsors: O'MALLEY. House Sponsors: WAIT Short description: GUARDIAN-ESTATE TAX DEDUCTION Synopsis of Bill as introduced: Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Allows elections and agreements to be made on behalf of a minor or disabled person concerning deduction of the value of qualified family-owned business interests of the decedent under the federal Internal Revenue Code. Validates otherwise lawful elections or agreements made on or after January 1, 1998 in reliance on or pursuant to the federal provision. Effective immediately. Last action on Bill: PUBLIC ACT.............................. 91-0349 Last action date: 99-07-29 Location: Senate Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status