# Illinois HB5215: MARK-TO-MARKET TAX ACT

Illinois HB5215, MARK-TO-MARKET TAX ACT, is a 104th General Assembly (2025–2026) House bill sponsored by Theresa Mah (Democratic); status in committee, last action 2026-05-22 (Added Co-Sponsor Rep. La Shawn K. Ford) (as of 2026-11-01).

- Canonical: https://policyrisk.com/state-bill/IL-HB5215-2025-2026
- As of: 2026-11-01
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Illinois HB5215
- State: Illinois
- Session: 104th General Assembly (2025–2026)
- Title: MARK-TO-MARKET TAX ACT
- Status: in committee
- Chamber: House
- Introduced: 2026-02-05
- Last action: 2026-05-22, Added Co-Sponsor Rep. La Shawn K. Ford
- Sponsor: Theresa Mah (Democratic)
- Cosponsors: 10
- Subjects: revenue & finance
- Touches household money: no
- Economic provisions PRIA read: 0

## Summary

Creates the Extremely High Wealth Mark-to-Market Tax Act. Provides that a resident taxpayer with net assets worth $1,000,000,000 or more shall recognize gains or losses as if each asset owned by that taxpayer had been sold for its fair market value on December 31 of the taxable year. Contains provisions concerning the calculation of the amount of tax due from those gains or losses. Amends the Illinois Income Tax Act to make conforming changes. Effective immediately.

## Bill overview

No economic impacts identified for this bill.

## Sponsors and cosponsors

- Sponsor: Theresa Mah (Democratic), House
- Cosponsor: Aarón M. Ortíz (Democratic), House
- Cosponsor: Ann M. Williams (Democratic), House
- Cosponsor: Dagmara Avelar (Democratic), House
- Cosponsor: Joyce Mason (Democratic), House
- Cosponsor: La Shawn K. Ford (Democratic), House
- Cosponsor: Lisa Davis (Democratic), House
- Cosponsor: Michael Crawford (Democratic), House
- Cosponsor: Nabeela Syed (Democratic), House
- Cosponsor: Rita Mayfield (Democratic), House
- Cosponsor: Sonya M. Harper (Democratic), House

## Actions (15)

- 2026-05-22: Added Co-Sponsor Rep. La Shawn K. Ford (House)
- 2026-05-11: Added Co-Sponsor Rep. Dagmara Avelar (House)
- 2026-04-23: Added Co-Sponsor Rep. Nabeela Syed (House)
- 2026-04-15: Added Co-Sponsor Rep. Aarón M. Ortíz (House)
- 2026-04-15: Added Co-Sponsor Rep. Lisa Davis (House)
- 2026-04-09: Added Chief Co-Sponsor Rep. Sonya M. Harper (House)
- 2026-04-06: Added Co-Sponsor Rep. Michael Crawford (House)
- 2026-04-02: Added Co-Sponsor Rep. Ann M. Williams (House)
- 2026-03-27: Rule 19(a) / Re-referred to Rules Committee (House)
- 2026-03-04: Assigned to Revenue & Finance Committee (House)
- 2026-02-24: Added Co-Sponsor Rep. Joyce Mason (House)
- 2026-02-20: Added Co-Sponsor Rep. Rita Mayfield (House)
- 2026-02-10: Referred to Rules Committee (House)
- 2026-02-10: First Reading (House)
- 2026-02-05: Filed with the Clerk by Rep. Theresa Mah (House)

## Bill text

- Introduced: [PDF](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5215.pdf)

## Related bills

- HB5198: AFFORDABLE HOUSING-CILAS (passed house)
- SB1937: PENSION CODE-VARIOUS (passed senate)
- HB2563: CONDO-RESERVE STUDY (in committee)
- HB4701: LIMITATIONS FACILITY FEES ACT (in committee)
- SB3008: DHS-ABLE PROGRAM INFO MATERIAL (passed senate)
- SB3484: VEH CD-PLATES-REGISTRATION (signed)

## Sources
- [Introduced (PDF)](https://www.ilga.gov/documents/legislation/104/HB/PDF/10400HB5215.pdf)

## Related
- [HB5198: AFFORDABLE HOUSING-CILAS](https://policyrisk.com/state-bill/IL-HB5198-2025-2026)
- [SB1937: PENSION CODE-VARIOUS](https://policyrisk.com/state-bill/IL-SB1937-2025-2026)
- [HB2563: CONDO-RESERVE STUDY](https://policyrisk.com/state-bill/IL-HB2563-2025-2026)
- [HB4701: LIMITATIONS FACILITY FEES ACT](https://policyrisk.com/state-bill/IL-HB4701-2025-2026)
- [SB3008: DHS-ABLE PROGRAM INFO MATERIAL](https://policyrisk.com/state-bill/IL-SB3008-2025-2026)
- [SB3484: VEH CD-PLATES-REGISTRATION](https://policyrisk.com/state-bill/IL-SB3484-2025-2026)
- [Illinois bills](https://policyrisk.com/states/illinois/bills)
- [Illinois state hub](https://policyrisk.com/states/illinois)
- [All state legislation](https://policyrisk.com/state-bills)

Source: PRIA, https://policyrisk.com/state-bill/IL-HB5215-2025-2026 (as of 2026-11-01).