Doris Turner
- Democratic
- Senator
- District 48
Primary
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".
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Added as Co-Sponsor Sen. Linda Holmes
Added as Chief Co-Sponsor Sen. David Koehler
Chief Sponsor Changed to Sen. Doris Turner
Sponsor Removed Sen. Doris Turner
Added as Co-Sponsor Sen. Jil Tracy
Added as Co-Sponsor Sen. Jason Plummer
Added as Co-Sponsor Sen. Terri Bryant
Added as Co-Sponsor Sen. Robert Peters
Added as Co-Sponsor Sen. Erica Harriss
Added as Co-Sponsor Sen. Sue Rezin
Added as Co-Sponsor Sen. Javier L. Cervantes
Added as Co-Sponsor Sen. Napoleon Harris, III
Added as Co-Sponsor Sen. Mark L. Walker
Added as Co-Sponsor Sen. Steve Stadelman
Added as Chief Co-Sponsor Sen. Dale Fowler
Added as Chief Co-Sponsor Sen. Adriane Johnson
Added as Co-Sponsor Sen. Rachel Ventura
Added as Co-Sponsor Sen. Dave Syverson
Added as Co-Sponsor Sen. Meg Loughran Cappel
Added as Co-Sponsor Sen. Chris Balkema
Added as Co-Sponsor Sen. Suzy Glowiak Hilton
Added as Co-Sponsor Sen. Michael E. Hastings
Added as Co-Sponsor Sen. Mary Edly-Allen
Added as Co-Sponsor Sen. Andrew S. Chesney
Added as Co-Sponsor Sen. Michael W. Halpin
Added as Co-Sponsor Sen. Chapin Rose
Added as Co-Sponsor Sen. Neil Anderson
Added as Co-Sponsor Sen. Mike Porfirio
Added as Co-Sponsor Sen. Sally J. Turner
Added as Chief Co-Sponsor Sen. Paul Faraci
First Reading
Added as Chief Co-Sponsor Sen. Doris Turner
Referred to Assignments
Filed with Secretary by Sen. David Koehler
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| Introduced | HTML PDF |
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