IllinoisHB1824104th General Assembly (2025–2026)HouseWALLET

DCEO-MASTER PLAN

Sponsored By: Jay Hoffman (Democratic)

In Committee

Summary

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.

revenue & finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Jay Hoffman

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 17 • No: 7

House vote • 3/20/2025

Recommends Do Pass Subcommittee/ Revenue & Finance Committee;

Yes: 4 • No: 0

House vote • 3/20/2025

Do Pass / Short Debate Revenue & Finance Committee;

Yes: 13 • No: 7

Bill Text

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