Bill Sponsors: IL HB4496 | 2023-2024 | 103rd General Assembly
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 1-0)
Status: (Introduced) 2024-05-31 - Rule 19(a) / Re-referred to Rules Committee [HB4496 Detail]
Text: Latest bill text (Introduced) [HTML]
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-05-31 - Rule 19(a) / Re-referred to Rules Committee [HB4496 Detail]
Text: Latest bill text (Introduced) [HTML]
Sponsors
Name | Type | Sponsorship | District | Financial | Encyclopedia | Biography |
---|---|---|---|---|---|---|
Representative Jay Hoffman [D] | Primary | Sponsored Bills | HD-113 | FollowTheMoney | Ballotpedia | VoteSmart |