NJ S107

Establishes a 10-year pilot loan program through the New Jersey Economic Development Authority to provide low-interest loans (up to 5% annually) covering up to 100% of qualified costs for installing new vineyards in eligible counties, with loan terms up to 10 years

Creates a 25% tax credit against corporation business tax or gross income tax for qualified capital expenses related to establishing new vineyards/wineries or making capital improvements to existing ones in eligible counties, available for tax years January 1, 2023 through January 1, 2033

Defines eligible counties as third-class counties with population over 150,000, fifth-class, or sixth-class counties that contain at least three wineries

Qualified costs for loans include land preparation, purchasing vines and trees, and related equipment/supplies, but exclude tractors, pick-up trucks, and wine-making equipment

Unused tax credits may be carried forward for up to 15 years, and the program requires annual reports to the Governor and Legislature on effectiveness in increasing vineyard acreage and winery numbers