Bill Title: 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.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Failed) 2025-01-07 - Session Sine Die [SB0805 Detail]

Text: Latest bill text (Engrossed) [HTML]

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Sponsors

Name	Type	Contact	Phone	District	Sponsorship	State Profile	Financial	Encyclopedia	Biography
Senator Celina Villanueva [D]	Primary	N/A	217-782-5304	SD-012	Sponsored Bills	State Profile	FollowTheMoney	Ballotpedia	VoteSmart
Senator Adriane Johnson [D]	Cosponsor	N/A	217-782-8181	SD-030	Sponsored Bills	State Profile	N/A	Ballotpedia	VoteSmart
Senator Mary Edly-Allen [D]	Cosponsor	N/A	217-782-7353	SD-031	Sponsored Bills	State Profile	FollowTheMoney	Ballotpedia	VoteSmart
Representative Jay Hoffman [D]	Primary	Email	217-782-0104	HD-113	Sponsored Bills	State Profile	FollowTheMoney	Ballotpedia	VoteSmart

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