NJ S1298

Fusion energy and fusion technology companies would become eligible for New Jersey Economic Development Authority incentive programs, including those related to renewable energy development, emerging technologies, and targeted industry expansion

The EDA must adopt rules establishing eligibility requirements and uniform qualification methodologies for fusion energy/technology companies, in consultation with the NJ Commission on Science, Innovation and Technology and Board of Public Utilities

"Fusion technology company" is defined as a NJ-headquartered corporation with proprietary intellectual property that employs highly educated workers using sophisticated research equipment to develop fusion energy products or services

Fusion energy is explicitly excluded from the NJ Clean Energy Program and other incentives funded through the societal benefits charge of the Universal Service Fund

The bill amends existing corporation business tax benefit certificate transfer programs and the Angel Investor Tax Credit Act to include fusion energy within definitions of "renewable energy technology" and "technology company"