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Bill > S3185
NJ S3185
NJ S3185Provides CBT credit for development of anaerobic digestion facilities that process food waste.
summary
Introduced
10/06/2022
10/06/2022
In Committee
11/03/2022
11/03/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Provides CBT credit for development of anaerobic digestion facilities that process food waste.
AI Summary
This bill provides a corporate business tax (CBT) credit for the development and construction of anaerobic digestion facilities that process food waste within New Jersey. The credit is available for the first seven privilege periods (tax years) after the bill's effective date and is capped at the lesser of 50% of the project's costs or $250,000. To qualify, the taxpayer must apply for and receive certification from the Commissioner of Environmental Protection. The total value of the credits is capped at $15 million, and the Department of Environmental Protection must submit a report on the effectiveness of the credit within six years of the law's effective date.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (2)
Last Action
Referred to Senate Budget and Appropriations Committee (on 11/03/2022)
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/S3185 |
| Fiscal Note - Fiscal Estimate 3/20/23; as introduced | https://pub.njleg.gov/Bills/2022/S3500/3185_E1.PDF |
| Analysis - Statement SEN 11/3/22 | https://pub.njleg.gov/Bills/2022/S3500/3185_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/S3500/3185_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/S3500/3185_I1.PDF |
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