SB3376Introduced in the Senate
MARK-TO-MARKET TAX ACT
Introduced by Karina Villa, District 25
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
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.
Where it stands
Added as Co-Sponsor Sen. Mike Simmons
April 23, 2026
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed with Secretary by Sen. Karina Villa
First Reading
Referred to Assignments
Added as Co-Sponsor Sen. Rachel Ventura
Added as Co-Sponsor Sen. Javier L. Cervantes
Added as Co-Sponsor Sen. Adriane L. Johnson
Added as Chief Co-Sponsor Sen. Graciela Guzmán
Added as Co-Sponsor Sen. Mark L. Walker
Added as Co-Sponsor Sen. Ram Villivalam
Added as Co-Sponsor Sen. Mattie Hunter
Added as Co-Sponsor Sen. Lakesia Collins
Added as Co-Sponsor Sen. Willie Preston
Added as Co-Sponsor Sen. Napoleon Harris III
Added as Co-Sponsor Sen. Emil Jones, III
Added as Co-Sponsor Sen. Mike Simmons
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