NJ S2916

Establishes a "net neutral benefit" test (instead of "net positive benefit") for NJ Aspire Program projects with at least $17 million in total costs, including at least $3.4 million in sustainability and resiliency costs

Defines "sustainability and resiliency costs" to include carbon reduction initiatives, electric vehicle charging infrastructure, geothermal heat pumps, stormwater management systems, living shorelines, brownfield remediation, historic property rehabilitation, and public infrastructure investments

Adds new definitions for brownfield sites, contamination, historic properties, living shorelines, stormwater management systems, and remediation to the existing NJ Aspire Program statute

Projects meeting the sustainability and resiliency cost thresholds must demonstrate that tax credits will yield a net neutral benefit (equal to the requested tax credit amount) rather than the standard net positive benefit requirement

Applies to applications submitted on or after the bill's effective date and is pre-filed for introduction in the 2026 legislative session