HB5525Introduced in the House
ESTATE TAX-EXCLUSION AMOUNT
Introduced by Dave Severin, District 116
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. Provides that, for persons dying on or after January 1, 2027, the exclusion amount shall be the applicable exclusion amount calculated under Section 2010 of the Internal Revenue Code, including any deceased spousal unused exclusion amount (currently, the exclusion amount for Illinois estate tax purposes is $4,000,000). Effective immediately.
Where it stands
Rule 19(a) / Re-referred to Rules Committee
March 27, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
Bill history
Filed with the Clerk by Rep. Dave Severin
First Reading
Referred to Rules Committee
Assigned to Revenue & Finance Committee
Rule 19(a) / Re-referred to Rules Committee
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