"End Data Center Tax Credits Act"; reduces tax credits available for Next New Jersey Program.*
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill, the ‘End Data Center Tax Credits Act,’ aims to limit the amount of tax credits available for the Next New Jersey Program. Specifically, it reduces the program’s funding by $250 million, effectively reallocating those funds to the New Jersey Aspire Program and the Emerge Program. The bill responds to the existing limits on tax credits established by the New Jersey Economic Recovery Act of 2020. This change is intended to manage the overall amount of tax credits available for economic development initiatives.
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