SB3778 - 104th General Assembly (2025-2026)

FREE PUBLIC COMMUNITY COLLEGE
Last Action
2/05/2026 - Senate: Referred to Assignments
Senate Sponsors
Sen. Mike Simmons
Statutes Amended In Order of Appearance
New Act  
30 ILCS 105/5.1038 new  
110 ILCS 805/2-16.02  from Ch. 122, par. 102-16.02
110 ILCS 805/6-1.2 new  
110 ILCS 805/7-1.1  from Ch. 122, par. 107-1.1
110 ILCS 805/3-45 rep.  
110 ILCS 805/6-1.5 rep.  
110 ILCS 805/6-2 rep.  
110 ILCS 805/6-4 rep.  
110 ILCS 805/6-4a rep.  
110 ILCS 805/6-4.1 rep.  
110 ILCS 805/6-4.2 rep.  
Synopsis As Introduced
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 on December 31 of a tax year shall recognize gains or losses as if each asset owned by that taxpayer on December 31 of the tax year had been sold for its fair market value on December 31 of the tax year but with adjustment made for taxes paid on gains in previous years. Provides that money collected under the Act, other than for administration and enforcement, shall be deposited into the Community College Tuition Fund. Amends the Public Community College Act. Beginning with the 2028-2029 academic year, prohibits a community college district from charging a student tuition and fees, unless the student is not a resident of this State. Requires the Illinois Community College Board to establish a grant program to fully reimburse community college districts for the loss of tuition and fee revenue. Repeals certain provisions related to community college tuition and fees. Amends the State Finance Act to create the Community College Tuition Fund as a special fund in the State treasury. Makes conforming changes.
Actions
DateChamberAction
2/05/2026SenateFiled with Secretary by Sen. Mike Simmons
2/05/2026SenateFirst Reading
2/05/2026SenateReferred to Assignments