SB 1627

  • Illinois Senate Bill
  • 103rd Regular Session
  • Introduced in Senate
  • Senate
  • House
  • Governor

Estate Tax-Farm Property

Abstract

Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Provides that, for persons dying on or after January 1, 2024, the person's adjusted taxable estate shall not include the value of the decedent's ownership interest in qualified farm property. Provides that certain donations must be made to food banks for property to be considered qualified farm property. Effective immediately.

Bill Sponsors (4)

Votes


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Actions


Feb 01, 2024

Senate

Added as Co-Sponsor Sen. Sally J. Turner

May 09, 2023

Senate

Added as Co-Sponsor Sen. Christopher Belt

Mar 31, 2023

Senate

Rule 3-9(a) / Re-referred to Assignments

Senate

Senate Committee Amendment No. 2 Rule 3-9(a) / Re-referred to Assignments

Senate

Senate Committee Amendment No. 1 Rule 3-9(a) / Re-referred to Assignments

Mar 29, 2023

Senate

Senate Committee Amendment No. 2 Assignments Refers to Revenue

Senate

Senate Committee Amendment No. 2 Filed with Secretary by Sen. David Koehler

Senate

Senate Committee Amendment No. 2 Referred to Assignments

Mar 22, 2023

Senate

Senate Committee Amendment No. 1 Assignments Refers to Revenue

Mar 21, 2023

Senate

Senate Committee Amendment No. 1 Referred to Assignments

Senate

Re-assigned to Revenue

Senate

Rule 2-10 Committee Deadline Established As March 31, 2023

Senate

Senate Committee Amendment No. 1 Filed with Secretary by Sen. David Koehler

Mar 10, 2023

Senate

Rule 3-9(a) / Re-referred to Assignments

Feb 15, 2023

Senate

Added as Co-Sponsor Sen. Dale Fowler

Feb 14, 2023

Senate

Assigned to Revenue

Feb 08, 2023

Senate

Filed with Secretary by Sen. David Koehler

Senate

Referred to Assignments

Senate

First Reading

Bill Text

Bill Text Versions Format
Introduced HTML PDF
Senate Amendment 001 HTML PDF
Senate Amendment 002 HTML PDF

Related Documents

Document Format
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Sources

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