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  • NJ A1923
  • Provides a corporation business tax credit for certain investment in manufacturing equipment and manufacturing facility renovation, modernization and expansion.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill allows a corporation business tax credit for 20% of the costs of manufacturing equipment installed at a manufacturing facility in this State and 20% of the costs of improvements or additions that result in the renovation, modernization, or expansion of a manufacturing facility in this State. The bill provides that expenditures for manufacturing equipment and manufacturing facility renovation, modernization, and expansion for which a credit is allowed under this bill will not be expenditures for which a credit will be allowed under the New Jobs Investment Tax Credit, the Manufacturing and Employment Investment Tax Credit, the Research and Development Credit, or the Effluent Treatment and Conveyance Equipment Credit. The bill defines "manufacturing equipment" as machinery, apparatus, or equipment used in the production of tangible personal property that is eligible for the sales tax exemption for manufacturing equipment. That is machinery, apparatus, or equipment for use or consumption directly and primarily in the production of tangible personal property by manufacturing, processing, assembling, or refining, whose use is not incidental to those activities, and which has a useful life of more than one year. The bill defines a "manufacturing facility" as a business location, including but not limited to a factory, mill, or plant, at which more than 50% of the business personal property that is housed in the facility is manufacturing equipment.
Commerce and Economic Development
Introduced, Referred to Assembly Commerce and Economic Development Committee  (on 1/27/2016)
 
 
Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly Commerce and Economic Development Committee
Date Motion Yea Nay Other
None specified