Bill Title: 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.

Sponsorship: Partisan Bill (Democrat 11)

Status: (Introduced - Dead) 2026-05-22 - Added Co-Sponsor Rep. La Shawn K. Ford [HB5215 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Introduced	2026-02-05	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
No bill amendments currently on file for Illinois HB5215

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois HB5215 currently on file.