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HR0915 |
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LRB096 18403 HLH 33781 r |
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| HOUSE RESOLUTION
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| WHEREAS, Owners of small businesses and farms, their |
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| families, their employees, and their livelihoods are all being |
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| whipsawed by the upheavals in the federal estate tax laws; and
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| WHEREAS, The current federal estate tax is on "holiday" and |
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| will remain at 0.0% until December 31, 2010; on January 1, 2011 |
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| the federal estate tax is to be reinstated at a rate of 55% on |
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| all estates greater than $1 million; and
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| WHEREAS, Owners of small businesses and farms in the State |
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| of Illinois will be adversely affected if the federal estate |
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| tax is reinstated because of the high federal rate, which is |
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| much higher than the current State of Illinois estate tax rate; |
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| and
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| WHEREAS, The "holiday" on the federal estate tax should be |
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| made a permanent "holiday" by abolishing the federal estate tax |
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| altogether; therefore, be it
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| RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE |
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| NINETY-SIXTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we |
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| urge Congress to completely abolish the federal estate tax, |
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| protecting affected farms and small businesses; and be it |
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| further
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