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: (Engrossed) 2023-12-10 - Pursuant to Senate Rule 3-9(b) / Referred to Assignments [SB0805 Detail]

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Bill Drafts

Revision	Date	Format	Source	View
Engrossed	2023-03-30	HTML/Text	Link	View
Introduced	2023-02-02	HTML/Text	Link	View

Amendments

Amendment	Date	Disposition	Format	Source	View
House Amendment 002	2023-11-07	Proposed	HTML/Text	Link	View
House Amendment 001	2023-04-20	Proposed	HTML/Text	Link	View
Senate Amendment 001	2023-03-24	Proposed	HTML/Text	Link	View

Supplemental Documents

Title	Description	Date	Format	Source	View
No supplemental documents for Illinois SB0805 currently on file.

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