We present the results of modeling spectral properties of the chromophore, 2-acetyl-4-(p-hydroxybenzylidene)-1-methyl-5-imidazolone (AHBMI), from the newly discovered fluorescent protein asFP595 in different solvents and compare computational and recent experimental data. The time-dependent density functional theory (TDDFT) method is used to estimate positions of spectral bands with large oscillator strengths for vertical transitions to excited states following geometry optimizations of chromophore coordinates in vacuo and in solutions. The performance of different TDDFT functionals in computing excitations for a simpler chromophore from the green fluorescent protein was tested at the preliminary stage. Properties of various protonation states (neutral, anionic, zwitterionic) for the cis and trans conformations of AHBMI are compared. By using the polarizable continuum model, the following solvents have been considered for AHBMI: water, ethanol, acetonitrile, and dimethyl sulfoxide. It is shown that the bands found experimentally in aqueous solution refer to the cis neutral and cis anionic (or trans zwitterionic) conformations. The computed band positions deviate from experimental ones in water by no more than 35 nm (0.23 eV). In accord with experimental studies, the band shifts in different solvents do not show correlation with the dielectric constant or dipole moment; however, the computed values of the shifts are much smaller than those measured experimentally for the ionic species.