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HB0012
HB0012: Increasing the Illinois Estate Tax Exclusion Amount
Last scannedAug 24, 2026, 10:00 AM
In one sentence
This bill changes state law to increase the amount of money a person can leave behind without paying an Illinois estate tax from $4 million to $6 million for deaths occurring on or after January 1, 2026.
What it does
- Amends Section 2 of the Illinois Estate and Generation-Skipping Transfer Tax Act (35 ILCS 405/2).
- Increases the state exclusion amount from $4,000,000 to $6,000,000 for persons dying on or after January 1, 2026.
- Updates the list of historical exclusion amounts in the statute to include this new threshold.
Who it affects
- Individuals who die on or after January 1, 2026 and leave an estate subject to Illinois tax.
- Executors filing returns for persons dying in 2026 or later.
Limits and unknowns
- The official text states 'Effective immediately,' but does not specify if this means upon passage or requires further executive action.
- The provided excerpt is truncated and does not show the full definition of transferred property for generation-skipping transfers.
Plain language
Terms to know
- Exclusion amount
- The value of an estate below which no state estate tax is owed, as defined by the State Tax Credit calculation rules.
- Illinois Estate Tax
- A tax due to the State of Illinois with respect to a taxable transfer when a person dies.
Official record
Sources
Official summary
ESTATE TX-EXCLUSION AMOUNT