IllinoisHB4274104th General Assembly (2025–2026)House

DCEO-MASTER REDEVELOPMENT PLAN

Sponsored By: Jay Hoffman

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

    Affiliation unavailable

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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