Illinois House of Representatives bill in Session 104.
Status: in_committee. Latest action: April 11, 2025.
DCEO-MASTER PLAN.
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.
| Date | Event | Detail |
|---|---|---|
| 2025-01-28 | Introduced | Bill introduced |
| 2025-04-11 | Status | in_committee |
| 2025-04-11 | Latest Action | 4/11/2025 - House: |