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HB1824 - 104th General Assembly
DCEO-MASTER PLAN
Last Action
Statutes Amended In Order of Appearance
New Act
35 ILCS 5/203from 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 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 |