This bill, titled the "End Data Center Tax Credits Act," aims to restructure how New Jersey distributes tax credits for economic development and energy projects. It establishes a new nine-year spending cap of $11.5 billion for various incentive programs, which limits the total amount of money available annually for initiatives like historic preservation, brownfields redevelopment, and manufacturing. To support energy goals, the legislation authorizes the Board of Public Utilities to issue tax credits specifically for energy storage projects and creates a temporary income tax credit for certain residential utility customers. Additionally, it sets specific annual and total dollar limits for existing programs such as the Next New Jersey Program and the Innovation Evergreen Act, while reserving $2.5 billion for transformative projects under the Aspire Program.
This bill authorizes New Jersey to create special "250th Anniversary Revolutionary War" license plates for motor vehicles. Vehicle owners who apply (paying a $50 one-time fee plus a $10 annual fee) can display these plates, with all fees deposited into a dedicated fund. The fund, managed by the Department of Treasury, uses these monies to support the preservation of Revolutionary War sites across New Jersey. The design and implementation involve coordination between the Motor Vehicle Commission and the New Jersey Historical Commission.
This bill allocates approximately $77.4 million from dedicated tax revenues and Green Acres funds to the Department of Environmental Protection to support local government projects. The funding is divided between acquiring land for conservation and developing existing parks, with specific amounts designated for planning incentives, standard projects, and areas with high population density. Local municipalities and counties that meet certain population criteria are eligible to receive grants or loans to help them purchase or improve recreational spaces. Any remaining funds after the listed projects are funded may be used for additional approved initiatives with further committee approval.
This bill directs approximately $15.5 million from dedicated corporation business tax revenues to the Department of Environmental Protection for land conservation and recreation projects. The funds will provide grants to nonprofit organizations to purchase or develop land for open space, with specific allocations for land acquisition, park development, and stewardship activities. Additionally, the legislation allows the department to use leftover money from canceled projects to provide extra funding to previously approved initiatives, subject to oversight committee approval.
This bill authorizes the New Jersey Infrastructure Bank to spend $65.55 million in loans for transportation infrastructure projects during the 2027 fiscal year. The legislation allows the bank to provide funding to local government units for construction costs and includes specific provisions for forgiving up to $1 million in planning and design loans under certain conditions. Additionally, the act permits the bank to use additional funds to cover its own operational expenses, such as bond issuance costs and reserve requirements. While the text lists specific eligible projects, the summary of those details is incomplete in the provided document.
This bill authorizes the New Jersey Infrastructure Bank to lend up to $3.85 billion to local governments and public water utilities for environmental infrastructure projects in fiscal year 2027. The legislation allows the bank to use funds from various existing trust accounts to finance the construction of facilities related to drinking water and wastewater treatment. Additionally, the bill outlines how the bank can increase its available loan amounts by including interest earned, fees, and other financial adjustments.
This bill allocates state funds to the Department of Environmental Protection to support environmental infrastructure projects during fiscal year 2027. The money will be used to provide zero-interest or principal forgiveness loans to help finance clean water and drinking water initiatives. Additionally, the legislation authorizes the department to transfer money between different state revolving funds to ensure there is enough capital for these projects. Ultimately, the act aims to expand funding availability for essential water systems without changing the underlying loan terms.
This bill authorizes the New Jersey Infrastructure Bank to lend $13.093 million to local governments for specific hazard mitigation and resilience projects in fiscal year 2027. The funds are designated for four locations: Jersey City's McGovern Park, Brigantine's Golf Course Drive, Highlands Borough's flood mitigation efforts, and Manasquan Borough's shoreline protection. To receive these loans, project sponsors must meet eligibility requirements set by the State Office of Emergency Management and agree to repay the money within 30 years. The legislation also allows the bank to grow its lending capacity using interest earned from previous loans and fees charged for processing new applications.
This bill allows the authority managing regional rehabilitation and reentry centers in New Jersey to calculate how much each participating county should contribute to the center's budget. Instead of a separate tax levy being sent to the Board of Taxation, the authority's chief financial officer will certify the number of inmates from each county and determine their proportional financial share based on those figures. This change shifts the responsibility for assessing county contributions from a tax-based process to a direct calculation based on inmate population data. The legislation primarily affects the administrative operations of these centers and the financial reporting requirements for the counties involved.
This New Jersey bill temporarily increases the state child tax credit for residents with incomes up to $80,000 during the tax years 2026, 2027, and 2028. The legislation raises the credit amount by $250 for each income bracket, providing an additional $250 to families earning $30,000 or less and reducing the credit by $250 for those earning between $60,000 and $80,000. After these three years, the credit amounts will revert to their previous levels. The bill does not affect taxpayers with incomes above $80,000 or children over the age of six.
