"New Jersey Loves New Jersey Farmers Act"; provides corporation business tax credits and gross income tax credits to commercial farm operators for price loss.

This bill provides tax credits to New Jersey commercial farm operators who experience price losses on crops sold for human consumption. The tax credits equal the difference between actual receipts farmers received and a baseline amount calculated using the Secretary of Agriculture's monthly reference price, which reflects current market conditions and production costs. To qualify, farmers must submit applications with business records showing actual receipts and baseline calculations. The bill also allows farmers to transfer these tax credits to other taxpayers through a "tax credit transfer certificate" that can be sold or assigned. Unused credits can be carried forward for up to seven years for corporation business tax credits or five years for gross income tax credits.