Illinois HB 2865: ESTATE TAX-PHASE OUT
Status: Rule 19(a) / Re-referred to Rules Committee (as of 2025-03-21)
State: Illinois · Session: 104th · Bill: HB 2865
Sponsors: Joe C. Sosnowski, Charles Meier, Michael J. Coffey, Jr.
Bill Text
• Illinois General Assembly - Full Text of HB2865 • • • • • • • • • • • • Select Language × The Illinois General Assembly offers the Google Translate™ service for visitor convenience. In no way should it be considered accurate as to the translation of any content herein. Visitors of the Illinois General Assembly website are encouraged to use other translation services available on the internet. The English language version is always the official and authoritative version of this website. NOTE: To return to the original English language version, select the "Show Original" button on the Google Translate™ menu bar at the top of the window. Choose Language English Afrikaans Albanian Arabic Armenian Azerbaijani Basque Bengali Bosnian Catalan Croatian Czech Danish Dutch Esperanto Estonian Filipino Finnish French Galician Georgian German Greek Gujarati Haitian Creole Hausa Hawaiian Hebrew Hindi Hungarian Icelandic Indonesian Interlingua Interlingue Inuktitut Irish Italian Japanese Javanese Kannada Khmer Korean Latin Latvian Lithuanian Luxembourgish Macedonian Malagasy Malayalam Maltese Maori Marathi Myanmar Nepali Norwegian Odia Pashto Punjabi Romanian Russian Samoan Sango Sanskrit Sardinian Sindhi Sinhala Slovak Slovenian Somali Southern Sotho Spanish Sundanese Swahili Swedish Tamil Telugu Thai Tigrinya Tonga Turkish Ukrainian Urdu Vietnamese Welsh Xhosa Yiddish Yoruba Zulu Powered by Translate Close Illinois General Assembly Top Navigation Bar Translate Learn Select General Assembly Search the 104th General Assembly Enter search terms for legislation, members, committees, or schedules. ILGA.GOV • • LEGISLATION & LAWS • Bills & Resolutions • Public Acts • Illinois Compiled Statutes • Illinois Constitution • Search Legislation • Glossary • Guide • Reports & Inquiry • Legislative Reports • Special Reports • FTP Site • Legislator Lookup • Capitol Complex Phone Numbers • Rules & Regulations • Illinois Register • Administrative Rules • Senate • Members • Schedules • Committees • Request for Remote Testimony • Journals • Transcripts • Rules • Audio/Video • FOIA Information • Senate Employment Opportunities • Media Guidelines • House • Members • Schedules • Committees • Submit testimony for House Committees • Journals • Transcripts • Rules • Audio/Video • FOIA Information • House Employment Opportunities • Log In Mobile Top Bar Search the 104th General Assembly Enter keywords to search the Illinois General Assembly website. Full Text of HB2865 • Home • Legislation • Full Text HB2865 - 104th General Assembly • Bill Status • Full Text • Votes • Witness Slips Select Menu Bill Status Full Text Votes Witness Slips Printer Friendly Version Introduced Printer Friendly Version Introduced Open PDF 104TH GENERAL ASSEMBLY State of Illinois 2025 and 2026 HB2865 Introduced 2/6/2025, by Rep. Joe C. Sosnowski SYNOPSIS AS INTRODUCED: 35 ILCS 405/3 from Ch. 120, par. 405A-3 35 ILCS 405/4 from Ch. 120, par. 405A-4 35 ILCS 405/19 new 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. LRB104 06572 HLH 16608 b A BILL FOR HB2865LRB104 06572 HLH 16608 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 3 and 4 and by 6adding Section 19 as follows: 7 (35 ILCS 405/3) (from Ch. 120, par. 405A-3) 8 Sec. 3. Illinois estate tax. 9 (a) Imposition of Tax. An Illinois estate tax is imposed 10on every taxable transfer involving transferred property 11having a tax situs within the State of Illinois. 12 (b) Amount of tax. On estates of persons dying before 13January 1, 2003, the amount of the Illinois estate tax shall be 14the state tax credit, as defined in Section 2 of this Act, with 15respect to the taxable transfer reduced by the lesser of: 16 (1) the amount of the state tax credit paid to any 17 other state or states; and 18 (2) the amount determined by multiplying the maximum 19 state tax credit allowable with respect to the taxable 20 transfer by the percentage which the gross valu
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