NJ A2365

Increases the Angel Investor Tax Credit from 20% to 35% of qualified investments in New Jersey emerging technology businesses, with a 40% credit available for investments in businesses located in opportunity zones, low-income communities, or certified minority/women-owned businesses

Reduces the maximum employee threshold for qualifying "New Jersey emerging technology business" and "New Jersey based business" from 225 employees to 150 employees, with at least 75% filling positions in New Jersey

Lowers the annual cap on total Angel Investor Tax Credits from $35 million to $25 million, but allows unused tax benefits from the Technology Business Tax Certificate Transfer Program to roll over and increase the available credit pool

Maintains the $500,000 per-investment cap on tax credits for individual taxpayers and allows unused credits to be carried forward for up to 15 privilege periods

Repeals the "New Jersey Ignite Act" (sections 92-97 of P.L.2020, c.156) and authorizes the NJEDA Chief Executive Officer to adopt emergency regulations for up to 365 days to implement the changes