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NJ S927
Bill
Status
1/13/2026
Primary Sponsor
Michael Testa
Click for details
AI Summary
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Creates a 10% tax credit against Corporation Business Tax (CBT) and Gross Income Tax (GIT) for qualifying food establishments that purchase fruits, vegetables, crops, or other ingredients grown or manufactured in New Jersey
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Qualifying food establishments include restaurants, food manufacturing establishments, and limited or restricted breweries licensed under state law
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Tax credits cannot exceed 50% of the tax liability otherwise due in any given year, and cannot reduce CBT liability below the statutory minimum
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Unused credits may be carried forward for up to 20 years following the year in which they were earned
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The Director of the Division of Taxation, in consultation with the Secretary of Agriculture, must adopt rules and regulations to administer the program
Legislative Description
"Grown Here, Eaten Here Act"; provides CBT and GIT tax credits to qualifying food establishments for costs of purchasing certain local ingredients.
Economic Growth
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee
1/13/2026