IllinoisIllinois would use a $6 million estate tax exclusion
For people who die on or after January 1, 2026, the bill would use a $6 million exclusion amount in Illinois estate tax calculations.
What it does
For people who die on or after January 1, 2026, the bill sets the exclusion amount used in Illinois estate tax calculations at $6 million.
Argument forFamilies may pass on more property before the Illinois estate tax applies, leaving heirs with more when a person dies.
Argument againstSome estates that could have passed more property without Illinois estate tax may owe tax on a larger share, reducing what heirs receive.
More detail
The bill would raise the Illinois estate tax exclusion amount to $6 million. It applies to people who die on or after January 1, 2026. This amount is part of the calculation of the state tax credit used for Illinois estate tax. The $6 million amount applies to deaths on or after January 1, 2026.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 21Added Co-Sponsor Rep. Regan DeeringLatest
- 2025
- Mar 21Rule 19(a) / Re-referred to Rules Committee
- Feb 25To Tax Policy: Other Taxes Subcommittee
- Feb 7Added Co-Sponsor Rep. Jay Hoffman
- Feb 4Assigned to Revenue & Finance CommitteeMinor
- Jan 15Added Co-Sponsor Rep. Tony M. McCombie
- Jan 9Referred to Rules Committee
- Jan 9First ReadingMinor
- 2024
- Dec 4Prefiled with Clerk by Rep. Dave SeverinIntroduced
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