NJ S3503

Establishes a 35% tax credit against corporation business tax and gross income tax for production companies' expenditures on accredited pre-Broadway and post-Broadway theater productions performed at qualified New Jersey facilities

Qualified production facilities must be located in New Jersey, contain at least one stage with 350+ seats, dressing rooms, and storage areas exclusively for live stage presentations

Eligible expenditures include set design and construction, costumes, sound and lighting, facility rentals, accommodations, payroll (capped at $250,000 per week), advertising, and transportation of sets and crew

Caps total tax credits at $10 million per fiscal year across both corporation business and gross income tax credits combined

Requires the New Jersey Economic Development Authority to submit annual reports detailing all applications, approved credits, and supported productions to the Governor and Legislature