Illinois SB 2970: ESTATE TAX-SPECIAL USE

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104TH GENERAL ASSEMBLY 
State of Illinois 
2025 and 2026
SB2970

Introduced 1/27/2026, by Sen. Mattie Hunter 

SYNOPSIS AS INTRODUCED:

35 ILCS 405/2 from Ch. 120, par. 405A-2

35 ILCS 405/5 from Ch. 120, par. 405A-5

 Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Makes changes concerning the taxes due under the Act on estates that contain qualified farm property. Provides that, for the purposes of calculating the State Death Tax Credit, those estates are subject to an exemption of $6,000,000 (rather than an exclusion amount of $4,000,000), which shall be deducted from the net estate value after the net estate value is computed in accordance with the Act. Provides that the exemption shall be adjusted each year according to the increase in the Consumer Price Index. Makes changes concerning the calculation of the deceased spousal unused exclusion amount for those estates. Provides for a special use valuation to provide that the value of the qualified farm property shall be calculated without regard to certain limitations under the Internal Revenue Code. Makes changes concerning the definition of "qualified heir". Effective January 1, 2027.

LRB104 17739 HLH 31170 b

A BILL FOR

SB2970LRB104 17739 HLH 31170 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 and 5 as 

6follows:

7 (35 ILCS 405/2) (from Ch. 120, par. 405A-2)

8 Sec. 2. Definitions. In this Act: 

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 ge