Provides CBT and gross income tax credit for certain capital investments in film production facility.

This bill provides a tax credit for businesses making significant capital investments in film production facilities in New Jersey. Eligible businesses can claim a credit equal to 30% of their investment (minimum $30 million) in facilities that are at least 50,000 square feet with one sound stage. The credit can be applied against corporate business tax or gross income tax in the year of investment or up to seven subsequent years, and may also be transferred to other taxpayers at minimum 75% of its value. The total annual credit amount is capped at $100 million, and investments must be made between July 1, 2020 and July 1, 2028.