In CommitteeFiled Jan 30, 2026
Sponsor: Sharon Chung (D)
Latest Action
Added Co-Sponsor Rep. David Friess
Oct 22, 2026
Summary
The bill raises the exemption for estates that include qualified farm property from $4 million to $6 million and adjusts it each year for inflation. It also lets owners value farm land using a special use method that ignores some federal limits. The changes affect Illinois residents who own farms and could lower the state death tax they owe.
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