Bill > A3191

This bill, the "Green Building Tax Credit Act," provides a tax credit to taxpayers for the allowable costs associated with constructing or rehabilitating green buildings in New Jersey. The credit ranges from 4% to 6% of the allowable costs, depending on the building's LEED rating. The bill defines key terms like "allowable costs," "green building," and "LEED," and it outlines the application process for obtaining a credit reservation certificate and eligibility certificate. The bill also sets a cap on the total amount of credits that can be granted each fiscal year and provides for the transferability of credits. Finally, the bill requires the Department of Community Affairs, in consultation with the Department of Environmental Protection, to adopt standards for what constitutes a green building under the act.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2022/A3191