In CommitteeFiled Feb 3, 2026
Sponsor: Joe C. Sosnowski
Latest Action
Rule 19(a) / Re-referred to Rules Committee
Mar 27, 2026
Summary
The bill changes the Illinois estate tax credit calculation so that, for people who die on or after Jan. 1, 2027, the value of any ownership in a manufacturing business (NAICS 31‑33) located in Illinois is removed from the federal taxable estate. This reduces the amount of state estate tax owed by heirs of owners of manufacturing firms. The change is intended to support the state’s manufacturing sector.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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