NJ S4365

Extends New Jersey's film and digital media production tax credit program by 10 years, from July 2039 to July 2049, and increases tax credit rates for studio partners and film-lease production companies from 35% to 40% for productions within 30 miles of Columbus Circle in New York City

Adds automatic competitive adjustment provision: if a neighboring state offers higher film tax credits, New Jersey will increase credits to at least 45% for productions in counties within the 30-mile NYC radius

Creates new 5% bonus tax credit for television series that relocate to New Jersey (scripted series of 22+ minutes with $2.5 million+ per episode budget where all prior seasons were filmed elsewhere)

Beginning fiscal year 2026, increases maximum annual tax credit caps to $300 million for New Jersey studio partners and $250 million for New Jersey film-lease production companies, while extending refundability and allowing credits to reduce tax liability below zero

Establishes new 2% promotional tax credit for productions that promote New Jersey through methods such as behind-the-scenes videos of filming locations, social media posts, or placement of state promotional logos in credits