Illinois General Assembly - Bill Status for HB1733

Synopsis As Introduced
Specifies that the amendatory Act may be referred to as the Estate Tax Threshold Fix Law. Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2026 and prior to January 1, 2028, the exclusion amount shall be the applicable exclusion amount calculated under the Internal Revenue Code (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Provides that, for persons dying on or after January 1, 2026, the exclusion amount shall be the greater of (i) the applicable exclusion amount calculated under the Internal Revenue Code or (ii) the exclusion amount amount that would have been calculated under the Internal Revenue Code if the decedent had died in calendar year 2027. Effective immediately.

Actions

Date	Chamber	Action
1/24/2025	House	Filed with the Clerk by Rep. Ryan Spain
1/28/2025	House	First Reading
1/28/2025	House	Referred to Rules Committee
2/18/2025	House	Assigned to Revenue & Finance Committee
3/3/2025	House	To Tax Policy: Income Tax Subcommittee
3/5/2025	House	Added Co-Sponsor Rep. Jackie Haas
3/5/2025	House	Added Co-Sponsor Rep. Norine K. Hammond
3/21/2025	House	Rule 19(a) / Re-referred to Rules Committee

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