NJ S126

Establishes the "Startup Businesses in Business Incubators Development Program" through the NJ Economic Development Authority to provide financial assistance matching 20% of research institution funding, up to $200,000, to business accelerators and incubators located within urban transit hubs or within one mile of research institution campuses

Creates the "Business Accelerator and Business Incubator Network Grant Program" providing 10 grants of $100,000 each annually for seven years to accelerators and incubators based on competitive evaluation of their partnerships, support services, and relationships with minority and women-owned businesses

Provides tax credits equal to 15% of business operating expenses for accelerator and incubator businesses participating in the development program, applicable against both corporation business tax and gross income tax for seven tax periods, with unused credits eligible for carryforward or 50% refund

Requires $5 million in Angel Investor Tax Credits be allocated over five years specifically for investments in emerging technology businesses located within business accelerators and incubators

Eligible businesses must operate in specified fields including clean energy, life sciences, advanced manufacturing, logistics, big data, defense, or food and agriculture, and the EDA must submit annual reports with a sixth-year recommendation on whether to renew or discontinue the programs