Bill
Bill > S1619
NJ S1619
NJ S1619Provides corporation business tax and gross income tax credits for value of certain fruit and vegetable donations made by commercial farm operators.
summary
Introduced
02/14/2022
02/14/2022
In Committee
01/26/2023
01/26/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Provides corporation business tax and gross income tax credits for value of certain fruit and vegetable donations made by commercial farm operators.
AI Summary
This bill provides corporation business tax and gross income tax credits for commercial farm operators who donate certain fruit and vegetable donations to charitable organizations located in New Jersey. The credits, which are effective from 2024 to 2029, are equal to 10% of the wholesale value of the donated produce. Commercial farm operators must obtain written statements from the receiving charitable organizations to claim the credits. The bill also requires the Director of the Division of Taxation to prepare annual reports on the utilization of these tax credits, and provides for legislative oversight if the reports are not prepared on time.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (4)
Last Action
Referred to Senate Budget and Appropriations Committee (on 01/26/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/S1619 |
| Fiscal Note - Fiscal Estimate 7/26/23; 1R | https://pub.njleg.gov/Bills/2022/S2000/1619_E1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S2000/1619_R1.HTM |
| Analysis - Statement SEG 1/26/23 | https://pub.njleg.gov/Bills/2022/S2000/1619_S1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S2000/1619_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S2000/1619_I1.PDF |
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