Dave Severin introduced HB0012 in the Illinois House on Jan. 9, 2025, during the general assembly session 104, according to the Illinois General Assembly.
According to the Illinois General Assembly site, the legislature summarized the bill’s official text as follows: “Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Increases the exclusion amount from $4,000,000 to $6,000,000 for persons dying on or after January 1, 2026. Effective immediately.”
The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.
In essence, this bill amends the Illinois Estate and Generation-Skipping Transfer Tax Act by increasing the exclusion amount from $4 million to $6 million for individuals who die on or after Jan. 1, 2026. The legislation impacts the calculation of state taxes due on taxable transfers, aligning the Illinois exclusion with federal exclusions in some cases. Importantly, it allows for a separate marital deduction election for qualified terminable interest property on Illinois returns, which is independent of the federal estate tax purposes. The bill is effective immediately upon becoming law.
Severin graduated from John A. Logan Community College in 1978.
Dave Severin is currently serving in the Illinois State House, representing the state’s 116th House District. He replaced previous state representative David Friess in 2023.
Bills in Illinois follow a multi-step legislative process, beginning with introduction in either the House or Senate, followed by committee review, floor debates, and votes in both chambers before reaching the governor for approval or veto. The General Assembly operates on a biennial schedule, and while typically thousands of bills are introduced each session, only a fraction successfully pass through the process to become law.
You can read more about bills and other measures here.
| Bill Number | Date Introduced | Short Description |
|---|---|---|
| HB0012 | 01/09/2025 | Amends the Illinois Estate and Generation-Skipping Transfer Tax Act. Increases the exclusion amount from $4,000,000 to $6,000,000 for persons dying on or after January 1, 2026. Effective immediately. |
| HB0011 | 01/09/2025 | Amends the School Code. Provides that a provision that allows out-of-school suspensions of longer than 3 days, expulsions, and disciplinary removals to alternative schools to be used only if other appropriate and available behavioral and disciplinary interventions have been exhausted does not apply to a student who is determined to have possessed on school grounds a product that is prohibited from being sold or otherwise distributed to the student under the Prevention of Tobacco Use by Persons under 21 Years of Age and Sale and Distribution of Tobacco Products Act. Effective immediately. |
| HB0013 | 01/09/2025 | Amends the Illinois Income Tax Act. Creates an income tax credit in an amount equal to the foster care expenses, not to exceed $1,000 in any taxable year, paid or incurred by the taxpayer with respect to a qualified dependent child. Provides that the credit may be prorated. Effective immediately. |
| HB1202 | 01/09/2025 | Amends the Illinois Income Tax Act. Creates a credit for individual taxpayers in an amount equal to 100% of the eligible recycling costs incurred by the taxpayer during the taxable year, not to exceed $1,000 per taxpayer. Provides that “eligible recycling costs” means costs associated with the collection, separation, conversion, or treatment of recyclable solid waste materials, including, but not limited to, paper, glass, and plastic. |
| HB1203 | 01/09/2025 | Amends the Illinois Income Tax Act. Provides that the rate of tax on individuals, trusts, and estates is 4.85% (currently, 4.95%). Makes a conforming change concerning the pass-through entity tax. Effective immediately. |
