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NJ S3623
Bill
Status
2/19/2026
Primary Sponsor
Andrew Zwicker
Click for details
AI Summary
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Creates the Fusion Energy and Technology Incentive Program within the New Jersey Economic Development Authority to provide tax credits for fusion energy development at power plant sites
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Authorizes up to $5 million annually in tax credits for property owners who lease power plant space to fusion companies, covering 15% of rent received and 35% of capital investments made to prepare the site
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Authorizes up to $10 million annually in tax credits for fusion energy or fusion technology companies, covering 35% of capital investments for constructing or operating fusion facilities at power plant sites
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Requires fusion energy or technology companies to have headquarters in New Jersey and own or license proprietary intellectual property to qualify for tax credits
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Amends the Global Warming Solutions Fund to allow grants and financial assistance for fusion energy and fusion technology facilities alongside existing clean energy programs
Legislative Description
Establishes Fusion Energy and Technology Incentive Program in EDA to encourage use of power plants for fusion energy and technology purposes; authorizes funds in Global Warming Solutions Fund to support fusion energy and technology facilities.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
2/19/2026