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HB4736Introduced in the House

ESTATE TAX-SPECIAL USE

IntroducedHouse Rules

Introduced by Sharon Chung, District 91

What does this bill do?

Plain-English breakdown

Writing a plain-English summary of this bill… this can take a few seconds the first time.

Official description

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Makes changes concerning the taxes due under the Act on estates that contain qualified farm property. Provides that, for the purposes of calculating the State Death Tax Credit, those estates are subject to an exemption of $6,000,000 (rather than an exclusion amount of $4,000,000), which shall be deducted from the net estate value after the net estate value is computed in accordance with the Act. Provides that the exemption shall be adjusted each year according to the increase in the Consumer Price Index. Makes changes concerning the calculation of the deceased spousal unused exclusion amount for those estates. Provides for a special use valuation to provide that the value of the qualified farm property shall be calculated without regard to certain limitations under the Internal Revenue Code. Makes changes concerning the definition of "qualified heir". Effective January 1, 2027.

Where it stands

Added Co-Sponsor Rep. Anna Moeller

May 26, 2026

How did lawmakers vote?

No recorded vote is available for this bill yet.

Bill history

  1. Filed with the Clerk by Rep. Sharon Chung

  2. First Reading

  3. Referred to Rules Committee

  4. Added Chief Co-Sponsor Rep. Dave Vella

  5. Added Co-Sponsor Rep. Anthony DeLuca

  6. Added Co-Sponsor Rep. Dave Severin

  7. Assigned to Revenue & Finance Committee

  8. Added Co-Sponsor Rep. Maurice A. West, II

  9. Added Chief Co-Sponsor Rep. Jay Hoffman

  10. Added Co-Sponsor Rep. Michelle Mussman

  11. Added Co-Sponsor Rep. Rick Ryan

  12. Added Co-Sponsor Rep. Kimberly Du Buclet

  13. Added Co-Sponsor Rep. Michael J. Kelly

  14. Added Co-Sponsor Rep. Nicolle Grasse

  15. Rule 19(a) / Re-referred to Rules Committee

  16. Added Co-Sponsor Rep. Jason R. Bunting

  17. Added Co-Sponsor Rep. Dennis Tipsword

  18. Added Co-Sponsor Rep. Lindsey LaPointe

  19. Added Co-Sponsor Rep. Anna Moeller

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