NJ S4070

Establishes the Fusion Energy and Technology Incentive Program administered by the New Jersey Economic Development Authority to provide tax credits for developing fusion energy and technology facilities at power plant sites

Eligible property owners who lease power plant sites to fusion companies receive tax credits equal to 15% of rent collected plus 35% of capital investments made to prepare the site, capped at $5 million annually

Fusion energy or technology companies operating facilities at power plant sites receive tax credits equal to 35% of their capital investments, capped at $10 million annually

Tax credits can be applied against corporation business tax, gross income tax, or insurance premium taxes, with unused credits carried forward for up to five years and transferable to other entities

Amends the Global Warming Solutions Fund to authorize its 60% allocation to the EDA to also support fusion energy and fusion technology facilities alongside existing clean energy projects