IllinoisSB3376104th General Assembly (2025–2026)Senate

MARK-TO-MARKET TAX ACT

Sponsored By: Karina Villa (Democratic)

In Committee

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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Karina Villa

    Democratic • Senate

Cosponsors

  • Adriane L. Johnson

    Democratic • Senate

  • Emil Jones, III

    Democratic • Senate

  • Graciela Guzmán

    Democratic • Senate

  • Javier L. Cervantes

    Democratic • Senate

  • Lakesia Collins

    Democratic • Senate

  • Mark L. Walker

    Democratic • Senate

  • Mattie Hunter

    Democratic • Senate

  • Mike Simmons

    Democratic • Senate

  • Napoleon Harris III

    Democratic • Senate

  • Rachel Ventura

    Democratic • Senate

  • Ram Villivalam

    Democratic • Senate

  • Willie Preston

    Democratic • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Added as Co-Sponsor Sen. Mike Simmons

    4/23/2026Senate
  2. Added as Co-Sponsor Sen. Emil Jones, III

    4/17/2026Senate
  3. Added as Co-Sponsor Sen. Napoleon Harris III

    4/16/2026Senate
  4. Added as Co-Sponsor Sen. Willie Preston

    4/15/2026Senate
  5. Added as Co-Sponsor Sen. Lakesia Collins

    3/11/2026Senate
  6. Added as Co-Sponsor Sen. Mattie Hunter

    3/10/2026Senate
  7. Added as Co-Sponsor Sen. Ram Villivalam

    3/5/2026Senate
  8. Added as Co-Sponsor Sen. Mark L. Walker

    2/27/2026Senate
  9. Added as Chief Co-Sponsor Sen. Graciela Guzmán

    2/27/2026Senate
  10. Added as Co-Sponsor Sen. Adriane L. Johnson

    2/26/2026Senate
  11. Added as Co-Sponsor Sen. Javier L. Cervantes

    2/25/2026Senate
  12. Added as Co-Sponsor Sen. Rachel Ventura

    2/9/2026Senate
  13. Referred to Assignments

    2/4/2026Senate
  14. First Reading

    2/4/2026Senate
  15. Filed with Secretary by Sen. Karina Villa

    2/4/2026Senate

Bill Text

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