"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 Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill, the "End Data Center Tax Credits Act," reduces the amount of tax credits available for the Next New Jersey Program by $250 million. It achieves this by reallocating funds previously designated for the Next New Jersey Program, which supports the development of artificial intelligence and data centers, back to the New Jersey Aspire and Emerge programs. The bill was passed by the Senate Budget and Appropriations Committee with amendments that removed provisions related to energy storage tax credits and income tax credits for low-income residents. The overall goal is to limit the total value of tax credits under the Economic Recovery Act of 2020.
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Sponsors
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12 on record
Primary sponsors
Joseph Cryan
Nicholas Scutari
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