Illinois 103rd Regular Session Status: In Committee Bipartisan · 16 D · 10 R cosponsors

HB 4600 — ESTATE TAX-SPECIAL USE

Last action — Added Co-Sponsor Rep. Natalie A. Manley

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 103rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Summary

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Makes certain changes concerning 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" to provide that a decedent's brother, sister, uncle, aunt, niece, nephew, or first cousin is also included.

Bill Text

Action History

  1. Added Co-Sponsor Rep. Natalie A. Manley

  2. Added Co-Sponsor Rep. Abdelnasser Rashid

  3. Added Co-Sponsor Rep. Randy E. Frese

  4. Added Co-Sponsor Rep. Brandun Schweizer

  5. Rule 19(a) / Re-referred to Rules Committee

  6. Added Co-Sponsor Rep. Martin J. Moylan

  7. Added Co-Sponsor Rep. Dennis Tipsword, Jr.

  8. Added Co-Sponsor Rep. Angelica Guerrero-Cuellar

  9. Added Co-Sponsor Rep. Michael J. Coffey, Jr.

  10. Assigned to Revenue & Finance Committee

  11. Added Co-Sponsor Rep. Patrick Windhorst

  12. Added Co-Sponsor Rep. Amy Elik

  13. Added Co-Sponsor Rep. Michelle Mussman

  14. Added Co-Sponsor Rep. Barbara Hernández

  15. Added Co-Sponsor Rep. Dave Vella

  16. Added Co-Sponsor Rep. Dave Severin

  17. Added Co-Sponsor Rep. Gregg Johnson

  18. Added Co-Sponsor Rep. Katie Stuart

  19. Added Co-Sponsor Rep. Matt Hanson

  20. Added Co-Sponsor Rep. Anthony DeLuca

  21. Added Co-Sponsor Rep. Jason Bunting

  22. Added Co-Sponsor Rep. Joyce Mason

  23. Added Co-Sponsor Rep. Stephanie A. Kifowit

  24. Added Co-Sponsor Rep. Charles Meier

  25. Added Chief Co-Sponsor Rep. Harry Benton

  26. Added Chief Co-Sponsor Rep. Maurice A. West, II

  27. Added Chief Co-Sponsor Rep. Norine K. Hammond

  28. Added Chief Co-Sponsor Rep. Jay Hoffman

  29. Added Co-Sponsor Rep. Kevin Schmidt

  30. Referred to Rules Committee

  31. First Reading

  32. Filed with the Clerk by Rep. Sharon Chung

Sponsors

Sponsorship breakdown

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1 sponsors · 27 co-sponsors · 155 not signed on

Sponsors (1)

Co-sponsors (27)

Not signed on (155)

155 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation agriculture
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Frequently asked questions

What does HB 4600 do?
Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Makes certain changes concerning 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" to provide that a decedent's brother, sister, uncle, aunt, niece, nephew, or first cousin is also included.
Who sponsors HB 4600?
HB 4600 is sponsored by Sharon Chung (Democrat), Jay Hoffman (Democrat), Norine K. Hammond (Republican), Maurice A. West, II (Democrat), Harry Benton (Democrat), Kevin Schmidt (Republican), Charles Meier (Republican), Stephanie A. Kifowit (Democrat), Joyce Mason (Democrat), Jason R. Bunting (Republican), Anthony DeLuca (Democrat), Matt Hanson (Democrat), Katie Stuart (Democrat), Gregg Johnson (Democrat), Dave Severin (Republican), Dave Vella (Democrat), Barbara Hernández, Michelle Mussman (Democrat), Amy Elik (Republican), Patrick Windhorst (Republican), Michael J. Coffey, Jr. (Republican), Angelica Guerrero-Cuellar (Democrat), Dennis Tipsword (Republican), Brandun Schweizer (Republican), Randy E. Frese, Abdelnasser Rashid (Democrat), Natalie A. Manley (Democrat), and Martin J. Moylan (Democrat).
What is the current status of HB 4600?
This bill died with 103rd Regular Session. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 4600?
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