NJ A6307

Modifies New Jersey's film and digital media content production tax credit program by allowing New Jersey studio partners that cease qualifying for that designation to apply for designation as a New Jersey film-lease partner facility, reducing the number of available film-lease partner facility slots by one upon approval.

Exempts production facilities owned, built, leased, or operated by a company designated as a New Jersey studio partner from the limitation on film-lease partner facility slots.

Removes the previous formula-based approach requiring the authority to reallocate tax credit amounts between New Jersey studio partners and film-lease production companies when a studio partner changes designation status.

Maintains existing tax credit rates: 40% for New Jersey studio partners, 35-40% for film-lease production companies, and 30-35% for other taxpayers on qualified film production expenses through fiscal year 2049.

Preserves annual tax credit caps including $100 million for taxpayers other than studio partners and film-lease companies, $150 million each for studio partners and film-lease production companies, plus additional discretionary amounts from the Economic Development Authority.