Bill Status of HB 4496   103rd General Assembly

Short Description:  DCEO-MASTER PLAN

House Sponsors
Rep. Jay Hoffman

Last Action  View All Actions

DateChamber Action
  5/31/2024HouseRule 19(a) / Re-referred to Rules Committee

Statutes Amended In Order of Appearance
New Act
35 ILCS 5/203

Synopsis As Introduced
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.

Actions 
DateChamber Action
  1/17/2024HouseFiled with the Clerk by Rep. Jay Hoffman
  1/31/2024HouseFirst Reading
  1/31/2024HouseReferred to Rules Committee
  2/14/2024HouseAssigned to Revenue & Finance Committee
  3/8/2024HouseTo Revenue - Tax Credit and Incentives Subcommittee
  4/5/2024HouseCommittee/3rd Reading Deadline Extended-Rule May 24, 2024
  5/24/2024HouseCommittee/3rd Reading Deadline Extended-Rule May 27, 2024
  5/26/2024HouseCommittee/3rd Reading Deadline Extended-Rule May 31, 2024
  5/31/2024HouseRule 19(a) / Re-referred to Rules Committee

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