NJ S2215

Three-year pilot program provides tax credits equal to 50% of the wholesale value of fruits and vegetables donated by commercial farm operators to New Jersey charitable organizations, capped at $5,000 per operator per tax year.

Credits apply against both corporation business tax and gross income tax, with unused credits carrying forward for up to five years.

Total tax credits awarded under the program cannot exceed $100,000 per fiscal year across all participants.

Commercial farm operators must obtain written statements from recipient charities documenting each donation, and the Secretary of Agriculture must establish and publish monthly wholesale values for eligible produce.

Secretary of Agriculture must prepare annual reports on program utilization and include recommendations in the final report on whether to continue the program and whether to increase the credit percentage.