Illinois Senate Bill 3884

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on February 6 2026 - 25% progression, died in committee
Action: 2026-02-06 - Referred to Assignments
Pending: Senate Assignments Committee
Text: Latest bill text (Introduced) [HTML]

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. Amends the Department of Commerce and Economic Opportunity Law of the Civil Administrative Code of Illinois Provides that the Department of Commerce and Economic Opportunity shall develop a child care assistance program that includes child care subsidies and has benchmarks for limiting co-payments, by the year 2030, to no more than 7% of a family's income. Amends the Illinois Income Tax Act. Provides that, for taxable years beginning on or after January 1, 2027, the corporate income tax rate shall be 9% (currently, 7%). Effective immediately

REVENUE-CHILD CARE

Sen. Mike Simmons [D]

Date	Chamber	Action
2026-02-06	Senate	Referred to Assignments
2026-02-06	Senate	First Reading
2026-02-06	Senate	Filed with Secretary by Sen. Mike Simmons

Chapter	Article	Section	Citation Type	Statute Text
20	605	605-1119	New Code	See Bill Text
35	5	201	Amended Code	Citation Text
35	5	203	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/Legislation/BillStatus?DocNum=3884&GAID=18&DocTypeID=SB&LegId=167321&SessionID=114
Text	https://www.ilga.gov/Legislation/BillStatus/FullText?LegDocId=208667&DocName=10400SB3884&DocNum=3884&DocTypeID=SB&LegID=167321&GAID=18&SessionID=114&SpecSess=&Session=