IllinoisHB4274104th General Assembly (2025–2026)House

DCEO-MASTER REDEVELOPMENT 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. 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

No roll call votes available for this bill.

Actions Timeline

  1. Rule 19(a) / Re-referred to Rules Committee

    3/27/2026House
  2. Assigned to Revenue & Finance Committee

    3/12/2026House
  3. Referred to Rules Committee

    1/14/2026House
  4. First Reading

    1/14/2026House
  5. Filed with the Clerk by Rep. Jay Hoffman

    1/5/2026House

Bill Text

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