HB4274 - 104th General Assembly (2025-2026)

DCEO-MASTER REDEVELOPMENT PLAN
Last Action
1/14/2026 - House: Referred to Rules Committee
House Sponsors
Rep. Jay Hoffman
Statutes Amended In Order of Appearance
New Act  
35 ILCS 5/203  from Ch. 120, par. 2-203
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. 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
DateChamberAction
1/05/2026HouseFiled with the Clerk by Rep. Jay Hoffman
1/14/2026HouseFirst Reading
1/14/2026HouseReferred to Rules Committee