SB2038Introduced in the Senate
ESTATE TAX-COMPUTATION
Introduced by Celina Villanueva, District 12
What does this bill do?
Plain-English breakdown
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Official description
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2026, the amount of the Illinois estate tax shall be the amount of the Illinois taxable estate, multiplied by the Illinois estate tax rate. Sets forth the estate tax rate. Provides that the "Illinois taxable estate" means the decedent's federal gross estate, subject to certain modifications, including a deduction in the amount of $4,000,000. Makes conforming changes with respect to the generation-skipping transfer tax. Effective immediately.
Where it stands
Added as Co-Sponsor Sen. Rachel Ventura
April 30, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed with Secretary by Sen. Celina Villanueva
First Reading
Referred to Assignments
Added as Co-Sponsor Sen. Rachel Ventura
Verify the information
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