IL HB5958

Raises the annual limit on total angel investment tax credits from $10 million to $20 million per calendar year.

Increases the maximum eligible investment per applicant from $2 million to $4 million for each qualified new business venture.

Maintains the 25% tax credit rate for investments in qualified new business ventures registered with the Department of Commerce and Economic Opportunity.

Requires investments to be held for at least 3 years in Illinois to qualify, with claimants required to repay credits if investments are withdrawn or the business relocates.

Takes effect immediately upon becoming law.