SB 1735
Estate tax-phase out
Estate Tax-Phase Out
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that the amount of the taxes imposed under the Act shall be reduced in each year by 20%. Provides that no tax shall be imposed under the Act for persons dying on or after January 1, 2030 or for transfers occurring on or after January 1, 2030. Provides that the Act is repealed on January 1, 2031. Effective immediately.
Sponsors
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Primary sponsor
Cosponsors
Donald P. DeWitte
Patrick J. Joyce
Sally J. Turner
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