NJ S1750

Requires the Governor's annual State tax expenditure report to describe specific goals, purposes, and objectives for each tax expenditure based on legislative intent, with detailed performance indicators measuring effectiveness and return on investment relative to cost.

Expands the definition of "tax expenditure" to include transfer certificates and any provisions that deviate from the generally applicable tax structure, including deferrals and preferential tax rates.

Increases the minimum threshold for reporting development subsidies from $25,000 to $100,000 and requires recipient entities to report supplier diversity information, including payments to female-owned, minority-owned, small, and veteran-owned businesses.

Mandates data collection and reporting requirements specifying baseline measurements, performance indicators, and which taxpayers or state entities must collect and remit information to evaluate tax expenditure effectiveness.

Requires the annual Unified Economic Development Budget Report to be included in the Governor's budget message and to report instances where a tax expenditure benefit exceeds 10 percent of the recipient's state tax liability.