102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB5569
 
Introduced 1/31/2022, by Rep. Maurice A. West, II
 
SYNOPSIS AS INTRODUCED:
 

 
35 ILCS 5/232 new

     Amends the Illinois Income Tax Act. Creates a credit for taxpayers that make an eligible donation to a certified home improvement provider in an amount equal to 75% of the amount donated to that certified home improvement provider. Provides that a certified home improvement provider is a local agency, community organization, or community development corporation that (i) specializes in the area
of housing improvement, (ii) targets underserved communities that
meet the definition of a qualified census tract under Section 42 of the Internal Revenue Code, and (iii) has been approved to issue certificates of receipt for credits by the Illinois Housing Development Authority. Effective immediately.
  


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A BILL FOR
 

  
HB5569LRB102 22294 HLH 31427 b


  
1    AN ACT concerning revenue.
  
 
2    Be it enacted by the People of the State of Illinois,
 
3represented in the General Assembly:
  
 
 
4    Section 5. The Illinois Income Tax Act is amended  by 
5adding Section 232 as follows:
 
6    (35 ILCS 5/232 new)
7    Sec. 232. Donations to certified home improvement 
8providers.
9    (a) For taxable years beginning on or after January 1, 
102023, each taxpayer that makes an eligible donation to a 
11certified home improvement provider is entitled to a credit 
12against the tax imposed by subsections (a) and (b) of Section 
13201 in an amount equal to 75% of the amount donated to that 
14certified home improvement provider. Certified home 
15improvement providers are not eligible to make donations under 
16this Section to themselves or to any other certified home 
17improvement providers. 
18    (b) Each prospective certified home improvement provider 
19shall submit an application to the Authority for approval to 
20issue certificates of receipt for credits under this Section 
21in the form and manner prescribed by the Authority. The 
22Authority shall review and either approve or deny each 
23application to issue certificates of receipt pursuant to this 
 
 
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1Section. Approval or denial of an application shall be made on 
2a periodic basis. Applicants shall be notified of the 
3Authority's determination within 30 business days after the 
4application is received. 
5    (c) In no event shall a credit under this Section reduce 
6the taxpayer's liability to less than zero. If the amount of 
7the credit exceeds the tax liability for the year, the excess 
8may be carried forward and applied to the tax liability of the 
95 taxable years following the excess credit year. The tax 
10credit shall be applied to the earliest year for which there is 
11a tax liability. If there are credits for more than one year 
12that are available to offset a liability, the earlier credit 
13shall be applied first. 
14    (d) As used in this Section:
15    "Authority" means the Illinois Housing Development 
16Authority. 
17    "Certified home improvement provider" means a local 
18agency, community organization, or community development 
19corporation that (i) specializes in the area
of housing 
20improvement, (ii) targets underserved communities that
meet 
21the definition of a qualified census tract under Section 42 of 
22the Internal Revenue Code, and (iii) has been approved to 
23issue certificates of receipt for credits under this Section 
24by the Illinois Housing Development Authority. 
25    (e) This Section is exempt from the provisions of Section 
26250. 
 
 
 
 
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1    Section 99. Effective date. This Act takes effect upon 
2becoming law.