Loading chat...
NJ S860
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Michael Testa
Click for details
AI Summary
- Creates a 20% corporation business tax credit for manufacturing equipment installed at New Jersey manufacturing facilities
- Provides the same 20% credit for costs of renovation, modernization, or expansion of manufacturing facilities in the state
- Unused credits may be carried forward for up to seven years following the privilege period in which the credit is allowed
- Total credits applied cannot exceed 50% of tax liability or reduce taxes below the statutory minimum
- Manufacturing facility is defined as a business location where more than 50% of housed business personal property is manufacturing equipment
Legislative Description
Provides a corporation business tax credit for investment in certain manufacturing equipment, facility renovation, modernization, and expansion.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/13/2026
Committee Referrals
Economic Growth1/13/2026
Full Bill Text
No bill text available