"Grown Here, Eaten Here Act"; provides CBT and GIT tax credits to qualifying food establishments for costs of purchasing certain local ingredients.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
The "Grown Here, Eaten Here Act" provides tax credits to qualifying food businesses in New Jersey – such as restaurants and food manufacturers – for purchasing local ingredients. Specifically, it offers a 10% credit against the Corporation Business Tax and the New Jersey Gross Income Tax on the costs of these ingredients. The credits are capped at 50% of the tax liability and can be carried forward for up to 20 years. The bill also requires the Division of Taxation to create regulations for administering the program.
Bill text
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Document of record
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Sponsors
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1 on record
Primary sponsor
Michael Testa
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