Illinois 104th General Assembly Status: Introduced 11 D cosponsors

HB5215      — MARK-TO-MARKET TAX ACT

Last action — Added Co-Sponsor Rep. La Shawn K. Ford

  1. 1
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been introduced in the House. Introduced February 05, 2026. It must pass committee before a floor vote.

Next likely step: a committee referral and hearing.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Not enough signal yet

Not enough signal yet to read this bill's trajectory — we surface a likelihood only once there's real movement (stage, sponsorship, committee, or votes) to point to.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

Imposes a tax on extremely wealthy residents based on the market value of their assets.

The bill requires residents with net assets of $1 billion or more to pay taxes as if they sold their assets at market value each year. It amends existing tax laws to incorporate this new requirement.

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 Text

We don't have the full text on file for this bill yet.

Read HB5215 on the official Illinois source →

Action History

  1. Added Co-Sponsor Rep. La Shawn K. Ford

  2. Added Co-Sponsor Rep. Dagmara Avelar

  3. Added Co-Sponsor Rep. Nabeela Syed

  4. Added Co-Sponsor Rep. Aarón M. Ortíz

  5. Added Co-Sponsor Rep. Lisa Davis

  6. Added Chief Co-Sponsor Rep. Sonya M. Harper

  7. Added Co-Sponsor Rep. Michael Crawford

  8. Added Co-Sponsor Rep. Ann M. Williams

  9. Rule 19(a) / Re-referred to Rules Committee

  10. Assigned to Revenue & Finance Committee

  11. Added Co-Sponsor Rep. Joyce Mason

  12. Added Co-Sponsor Rep. Rita Mayfield

  13. Referred to Rules Committee

  14. First Reading

  15. Filed with the Clerk by Rep. Theresa Mah

Sponsors

Sponsorship breakdown

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1 sponsors · 10 co-sponsors · 172 not signed on

Sponsors (1)

Co-sponsors (10)

Not signed on (172)

172 members have not signed on to this bill.

Show all 172 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

taxation
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB5215      do?
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.
Who sponsors HB5215     ?
HB5215      is sponsored by Theresa Mah (Democrat), Sonya M. Harper (Democrat), Rita Mayfield (Democrat), Joyce Mason (Democrat), Ann M. Williams (Democrat), Michael Crawford (Democrat), Lisa Davis (Democrat), Aarón M. Ortíz (Democrat), Nabeela Syed (Democrat), Dagmara Avelar (Democrat), and La Shawn K. Ford (Democrat).
What is the current status of HB5215     ?
This bill has been introduced in the House. Introduced February 05, 2026. It must pass committee before a floor vote.
Where can I track HB5215     ?
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Last checked for changes 3 months ago · updated continuously

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