IL HB5569

Creates an income tax credit for taxpayers making donations to certified home improvement providers, equal to 75% of the donation amount for taxable years beginning January 1, 2023.

Defines certified home improvement providers as local agencies, community organizations, or community development corporations that specialize in housing improvement, target underserved qualified census tracts, and are approved by the Illinois Housing Development Authority.

Prohibits certified home improvement providers from donating to themselves or to other certified home improvement providers.

Allows excess credits to be carried forward and applied to tax liability in the following 5 taxable years, with earlier credits applied first.

Requires prospective providers to submit applications to the Illinois Housing Development Authority, which must approve or deny applications within 30 business days.