· IL legislature · 104th

MARK-TO-MARKET TAX ACT

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 t…

Sponsor

Theresa Mah (D-IL)

Introduced

2026-02-05

Policy area

Taxation

Latest action

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