Environment
No direct effect
Neutral — no direct effect identified.
Benefits
- No material direct effect identified.
Risks
- No material direct effect identified.
StateIllinoisIntroduced
HB 4736: ESTATE TAX-SPECIAL USE
Sharon Chung
HB 4736 status: Introduced — Added Co-Sponsor Rep. Regan Deering (updated Aug 28, 2026).
Source
LegiScan
Confidence
High
Analysis basis
LegiScan full bill text
01
What this bill does
Official summary alongside an AI-generated read on where it stands and why.
Overall Score
70OUT OF 100
Score:70/100 civic fit
Risk:Moderate Risk
Impact:Moderate Impact 60/100
Constitutionality95%
Bipartisan80%
Public opinion75%
Bill summary
What changes
HB 4736 modifies the Illinois Estate and Generation-Skipping Transfer Tax Act to specifically benefit estates with 'qualified farm property'. It increases the exemption to $6 million (indexed for inflation), allows for the portability of the deceased spousal unused exclusion amount, and permits a state-level special use valuation.
Who is affected
Executors, trustees, and heirs of estates containing qualified farm property, as well as the Illinois Attorney General's office.
Requirements and enforcement
Executors must file specific, irrevocable elections for the state-level special use valuation and portability, independent of federal filings.
Costs and funding
Direct cost is the reduction in state estate tax revenue. Indirect costs include potential increases in legal and accounting fees for estate administration.
When it takes effect
Effective January 1, 2027.
Potential benefits
Increases threshold for estate tax, helps maintain family farm ownership, and aligns definitions with modern heir structures.
Risks and tradeoffs
Potential for reduced state revenue, increased administrative burden on taxpayers, and reliance on complex federal-state tax interactions.
What is still unknown
The precise fiscal impact to the state budget and the administrative load on the Attorney General's office remain unstated.
02
Impact analysis
✦ AI analysisModeled effects across six domains, estimated from bill text and comparable legislation.
Economy
Positive outlook
70%
Benefits
- Increases estate tax exemption for farm property to $6,000,000.
- Indexes the exemption annually to the Consumer Price Index.
- Allows portability of the deceased spousal unused exclusion amount.
Risks
- Reduces total state estate tax revenue.
- Increases complexity for tax filings and estate valuations.
- Creates a separate state-level filing and election burden for executors.
Society
Positive outlook
75%
Benefits
- Promotes the retention of family farms across generations.
- Reduces pressure on families to sell land to pay estate taxes.
- Provides clearer guidelines for multi-generational wealth transfer.
Risks
- Complex estate planning requirements may necessitate expensive legal counsel.
- Reduced state tax revenue limits resources for public services.
- Potential for intra-family friction regarding election decisions and heir status.
Technology Industry
No direct effect
Neutral — no direct effect identified.
Benefits
- No material direct effect identified.
Risks
- No material direct effect identified.
Civic Accountability
Positive outlook
65%
Benefits
- Mandates the Attorney General to publish annual CPI multiplier tables.
- Codifies transparent formulas for adjusted exemption amounts.
- Requires specific irrevocable elections to prevent tax return manipulation.
Risks
- Requires ongoing administrative resources for state oversight.
- Reliance on federal law sections creates complexity for local oversight.
- The burden of proof remains high for complex state-specific elections.
Public Health & Safety
No direct effect
Neutral — no direct effect identified.
Benefits
- No material direct effect identified.
Risks
- No material direct effect identified.
03
How trustworthy & consequential it is
Sourcing already shown above, this is what the analysis found worth flagging.
Source
LegiScan
Official bill text or data from LegiScan.
Confidence
High
Information is complete and verified.
Analysis basis
LegiScan full bill text
Source used for this bill's analysis.
Source note
Complexity of state-specific elections may increase costs for small estates.
Analysis scope
Fiscal impact estimates for Illinois are not provided in the text.
04
Where it stands
Official record- IntroducedCurrent
- CommitteeUpcoming
- Chamber votesUpcoming
- Final agreementUpcoming
- GovernorUpcoming
- EnactedUpcoming
05
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