IL SB2088

Increases the annual aggregate angel investment tax credit cap from $10,000,000 to $25,000,000 per calendar year under the Illinois Income Tax Act.

Reserves $2,500,000 of the annual cap for investments in minority-owned businesses, female-owned businesses, or businesses owned by persons with disabilities, as defined in the Business Enterprise for Minorities, Females, and Persons with Disabilities Act.

Reserves an additional $2,500,000 of the annual cap for investments in businesses headquartered in counties with populations not exceeding 250,000.

Extends the angel investment tax credit program expiration date from December 31, 2016 to December 31, 2021.

Maintains the existing 25% tax credit rate on qualified investments up to $2,000,000 per investment, with credit carryforward provisions for excess amounts.