SB2855

SB2855 amends Illinois tax laws to create a tax credit for volunteers and modify payroll deductions for charitable contributions.

SB2855 introduces an income tax credit for individuals who volunteer for at least 100 hours without compensation, up to $5,000,000 annually. It also modifies the payroll deduction process for charitable contributions, requiring organizations to meet specific criteria to be eligible for tax credits. These criteria include tax-exempt status, compliance with human rights and charitable laws, and active service provision in communities. The bill further outlines the process for organizations to notify the State Comptroller of their compliance status and the consequences of non-compliance.