Niemerg "Cautiously Optimistic" About Reduction in Estate Tax Liability

(ST. REP. ADAM NIEMERG AT A FARM EVENT IN 2021)

In light of legislation sponsored by the Illinois Farm Bureau that would change the state's estate tax specific to farms, St. Rep. Adam Niemerg remains hopeful that his measure to double the estate tax exemption will gain some traction.

Niemerg is sponsor of House Bill 1576 that would double the exemption in Illinois to $8 million. He would like the exemption increased to $12 million to match the federal exemption level. The measure was assigned to the Revenue and Finance Committee last year, but then reassigned back to the Rules Committee where it has not received any testimony or vote yet. 

Niemerg said, "I feel there should not be any tax on famiies when their loved one dies, but a reduction in the tax liability is a good start."