SB 1828

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Full Text of SB1828
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	SB1828 - 104th General Assembly
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104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
SB1828
Introduced 2/5/2025, by Sen. Sue Rezin
SYNOPSIS AS INTRODUCED:
35 ILCS 405/2	  from Ch. 120, par. 405A-2
35 ILCS 405/3	  from Ch. 120, par. 405A-3
35 ILCS 405/4	  from Ch. 120, par. 405A-4
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that no tax shall be imposed under the Act for persons dying on or after the effective date or for transfers made on or after the effective date. Effective immediately.
LRB104 07433 HLH 17474 b
A BILL FOR
		SB1828		LRB104 07433 HLH 17474 b
1    AN ACT concerning revenue.
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
4    Section 5. The Illinois Estate and Generation-Skipping
5Transfer Tax Act is amended by changing Sections 2, 3, and 4 as
6follows:
7    (35 ILCS 405/2)  (from Ch. 120, par. 405A-2)
8    Sec. 2. Definitions.
9    "Federal estate tax" means the tax due to the United
10States with respect to a taxable transfer under Chapter 11 of
11the Internal Revenue Code.
12    "Federal generation-skipping transfer tax" means the tax
13due to the United States with respect to a taxable transfer
14under Chapter 13 of the Internal Revenue Code.
15    "Federal return" means the federal estate tax return with
16respect to the federal estate tax and means the federal
17generation-skipping transfer tax return with respect to the
18federal generation-skipping transfer tax.
19    "Federal transfer tax" means the federal estate tax or the
20federal generation-skipping transfer tax.
21    "Illinois estate tax" means the tax due to this State with
22respect to a taxable transfer.
23    "Illinois generation-skipping transfer tax" means the tax
		SB1828	- 2 -	LRB104 07433 HLH 17474 b
1due to this State with respect to a taxable transfer that gives
2rise to a federal generation-skipping transfer tax.
3    "Illinois transfer tax" means the Illinois estate tax or
4the Illinois generation-skipping transfer tax.
5    "Internal Revenue Code" means, unless otherwise provided,
6the Internal Revenue Code of 1986, as amended from time to
7time.
8    "Non-resident trust" means a trust that is not a resident
9of this State for purposes of the Illinois Income Tax Act, as
10amended from time to time.
11    "Person" means and includes any individual, trust, estate,
12partnership, association, company or corporation.
13    "Qualified heir" means a qualified heir as defined in
14Section 2032A(e)(1) of the Internal Revenue Code.
15    "Resident trust" means a trust that is a resident of this
16State for purposes of the Illinois Income Tax Act, as amended
17from time to time.
18    "State" means any state, territory or possession of the
19United States and the District of Columbia.
20    "State tax credit" means:
21    (a) For persons dying on or after January 1, 2003 and
22through December 31, 2005, an amount equal to the full credit
23calculable under Section 2011 or Section 2604 of the Internal
24Revenue Code as the credit would have been computed and
25allowed under the Internal Revenue Code as in effect on
26December 31, 2001, without the reduction in the State Death
		SB1828	- 3 -	LRB104 07433 HLH 17474 b
1Tax Credit as provided in Section 2011(b)(2) or the
2termination of the State Death Tax Credit as provided in
3Section 2011(f) as enacted by the Economic Growth and Tax
4Relief Reconciliation Act of 2001, but recognizing the
5increased applicable exclusion amount through December 31,
62005.
7    (b) For persons dying after December 31, 2005 and on or
8before December 31, 2009, and for persons dying after December
931, 2010 and prior to the effective date of this amendatory Act 
10of the 104th General Assembly, an amount equal to the full
11credit calculable under Section 2011 or 2604 of the Internal
12Revenue Code as the credit would have been computed and
13allowed under the Internal Revenue Code as in effect on
14December 31, 2001, without the reduction in the State Death
15Tax Credit as provided in Section 2011(b)(2) or the
16termination of the State Death Tax Credit as provided in
17Section 2011(f) as enacted by the Economic Growth and Tax
18Relief Reconciliation Act of 2001, but recognizing the
19exclusion amount of only (i) $2,000,000 for persons dying
20prior to January 1, 2012, (ii) $3,500,000 for persons dying on
21or after January 1, 2012 and prior to January 1, 2013, and
22(iii) $4,000,000 for persons dying on or after January 1,
232013, and with reduction to the adjusted taxable estate for
24any qualified terminable interest property election as defined
25in subsection (b-1) of this Section.
26    (b-1) The person required to file the Illinois return may
		SB1828	- 4 -	LRB104 07433 HLH 17474 b
1elect on a timely filed Illinois return a marital deduction
2for qualified terminable interest property under Section
32056(b)(7) of the Internal Revenue Code for purposes of the
4Illinois estate tax that is separate and independent of any
5qualified terminable interest property election for federal
6estate tax purposes. For purposes of the Illinois estate tax,
7the inclusion of property in the gross estate of a surviving
8spouse is the same as under Section 2044 of the Internal
9Revenue Code.
10    In the case of any trust for which a State or federal
11qualified terminable interest property election is made, the
12trustee may not retain non-income producing assets for more
13than a reasonable amount of time without the consent of the
14surviving spouse.
15    "Taxable transfer" means an event that gives rise to a
16state tax credit, including any credit as a result of the
17imposition of an additional tax under Section 2032A(c) of the
18Internal Revenue Code.
19    "Transferee" means a transferee within the meaning of
20Section 2603(a)(1) and Section 6901(h) of the Internal Revenue
21Code.
22    "Transferred property" means:
23        (1) With respect to a taxable transfer occurring at
24    the death of an individual, the deceased individual's
25    gross estate as defined in Section 2031 of the Internal
26    Revenue Code.
		SB1828	- 5 -	LRB104 07433 HLH 17474 b
1        (2) With respect to a taxable transfer occurring as a
2    result of a taxable termination as defined in Section
3    2612(a) of the Internal Revenue Code, the taxable amount
4    determined under Section 2622(a) of the Internal Revenue
5    Code.
6        (3) With respect to a taxable transfer occurring as a
7    result of a taxable distribution as defined in Section
8    2612(b) of the Internal Revenue Code, the taxable amount
9    determined under Section 2621(a) of the Internal Revenue
10    Code.
11        (4) With respect to an event which causes the
12    imposition of an additional estate tax under Section
13    2032A(c) of the Internal Revenue Code, the qualified real
14    property that was disposed of or which ceased to be used
15    for the qualified use, within the meaning of Section
16    2032A(c)(1) of the Internal Revenue Code.
17    "Trust" includes a trust as defined in Section 2652(b)(1)
18of the Internal Revenue Code.
19(Source: P.A. 96-789, eff. 9-8-09; 96-1496, eff. 1-13-11;
2097-636, eff. 6-1-12.)
21    (35 ILCS 405/3)  (from Ch. 120, par. 405A-3)
22    Sec. 3. Illinois estate tax.
23    (a) Imposition of Tax. An Illinois estate tax is imposed
24on every taxable transfer involving transferred property
25having a tax situs within the State of Illinois.
		SB1828	- 6 -	LRB104 07433 HLH 17474 b
1    (b) Amount of tax. On estates of persons dying before
2January 1, 2003, the amount of the Illinois estate tax shall be
3the state tax credit, as defined in Section 2 of this Act, with
4respect to the taxable transfer reduced by the lesser of:
5        (1) the amount of the state tax credit paid to any
6    other state or states; and
7        (2) the amount determined by multiplying the maximum
8    state tax credit allowable with respect to the taxable
9    transfer by the percentage which the gross value of the
10    transferred property not having a tax situs in Illinois
11    bears to the gross value of the total transferred
12    property.
13    (c) On estates of persons dying on or after January 1, 2003
14and prior to the effective date of this amendatory Act of the 
15104th General Assembly, the amount of the Illinois estate tax
16shall be the state tax credit, as defined in Section 2 of this
17Act, reduced by the amount determined by multiplying the state
18tax credit with respect to the taxable transfer by the
19percentage which the gross value of the transferred property
20not having a tax situs in Illinois bears to the gross value of
21the total transferred property.
22    (d) No tax shall be imposed under this Act for persons 
23dying on or after the effective date of this amendatory Act of 
24the 104th General Assembly.
25(Source: P.A. 93-30, eff. 6-20-03; 94-419, eff. 8-2-05.)
		SB1828	- 7 -	LRB104 07433 HLH 17474 b
1    (35 ILCS 405/4)  (from Ch. 120, par. 405A-4)
2    Sec. 4. Illinois generation-skipping transfer tax.
3    (a) Imposition of tax. An Illinois generation-skipping
4transfer tax is imposed on every taxable transfer resulting in
5federal generation-skipping transfer tax involving transferred
6property having a tax situs within the State of Illinois.
7    (b) Amount of tax. The amount of the Illinois
8generation-skipping transfer tax shall be the maximum state
9tax credit allowable with respect to the taxable transfer,
10reduced by the lesser of:
11        (1) the amount of the state tax credit paid to any
12    other state or states; and
13        (2) the amount determined by multiplying the maximum
14    state tax credit allowable with respect to the taxable
15    transfer by the percentage which the gross value of the
16    transferred property not having a tax situs in Illinois
17    bears to the gross value of the total transferred
18    property.
19    (c) No tax shall be imposed under this Act for transfers 
20occurring on or after the effective date of this amendatory 
21Act of the 104th General Assembly.
22(Source: P.A. 86-737.)
23    Section 99. Effective date. This Act takes effect upon
24becoming law.