IL SB3302

Establishes a 25% tax credit for investments made in qualified new business ventures registered with the Department of Commerce and Economic Opportunity for taxable years 2011-2021.

Requires minimum investment of $10,000 per business and caps individual investment credit basis at $2,000,000 per qualified new business venture.

Limits annual statewide tax credits to $10,000,000, with $500,000 reserved for minority-owned, women-owned, and disability-owned businesses and $500,000 reserved for businesses in counties with populations under 250,000.

Requires qualified new business ventures to have principal operations in Illinois with at least 51% of employees in-state, fewer than 100 employees at certification, and operates in innovation sectors (manufacturing, biotechnology, clean energy, software, etc.) excluding real estate, finance, and professional services.

Imposes clawback provisions requiring investors to repay credits if investments are sold before 3 years or if the business fails to maintain minimum employment thresholds for 3 years after the last credit certificate is issued.