HB1824 - 104th General Assembly (2025-2026)
DCEO-MASTER PLAN
Last Action
4/11/2025 - House: Rule 19(a) / Re-referred to Rules Committee
Statutes Amended In Order of Appearance
Synopsis As Introduced
Creates the Master Development Plan Recognition Act. Provides that certain contributions made by the State or units of local government are considered made pursuant to a master development plan within the meaning of Section 118 of the Internal Revenue Code of 1986. Amends the Illinois Income Tax Act. Creates a deduction for capital contributions that are made pursuant to a master development plan and that are included in the taxpayer's federal taxable income for the taxable year under Section 118 of the Internal Revenue Code. Effective immediately.
Actions
| Date | Chamber | Action |
|---|---|---|
| 1/28/2025 | House | Filed with the Clerk by Rep. Jay Hoffman |
| 1/28/2025 | House | First Reading |
| 1/28/2025 | House | Referred to Rules Committee |
| 2/25/2025 | House | Assigned to Revenue & Finance Committee |
| 3/03/2025 | House | To Tax Credit and Incentives Subcommittee |
| 3/20/2025 | House | Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 004-000-000 |
| 3/20/2025 | House | Reported Back To Revenue & Finance Committee; |
| 3/20/2025 | House | Do Pass / Short Debate Revenue & Finance Committee; 013-007-000 |
| 3/20/2025 | House | Placed on Calendar 2nd Reading - Short Debate |
| 3/26/2025 | House | Second Reading - Short Debate |
| 3/26/2025 | House | Held on Calendar Order of Second Reading - Short Debate |
| 4/11/2025 | House | Rule 19(a) / Re-referred to Rules Committee |