HB 1824 Illinois House · 104th Regular Session

DCEO-MASTER PLAN

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.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2025

Committee Review

Floor Vote

Governor

Introduced Jan 28, 2025 Last action Apr 11, 2025

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 11, 2025

Committee

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

lower

Mar 20, 2025

Lower · Passed

Do Pass / Short Debate Revenue & Finance Committee; 013-007-000

lower

Mar 20, 2025

Lower · Passed

Reported Back To Revenue & Finance Committee;

lower

Mar 20, 2025

Lower · Passed

Recommends Do Pass Subcommittee/ Revenue & Finance Committee; 004-000-000

lower

Mar 3, 2025

Lower · Passed

To Tax Credit and Incentives Subcommittee

lower

Feb 25, 2025

Committee

Assigned to Revenue & Finance Committee

lower

Jan 28, 2025

Committee

Referred to Rules Committee

lower

1 primary · 0 co-sponsors