Bill > S3683

Introduced Session

This bill, designated as the "Grown Here, Eaten Here Act," provides Corporation Business Tax and New Jersey Gross Income Tax credits to qualifying food establishments for 10 percent of the costs of purchasing any fruits, vegetables, crops, and other ingredients that are grown or manufactured in the State for use in the preparation of foods or beverages at the qualifying food establishment. Under the bill, a "qualifying food establishment" is defined to include a restaurant, a food manufacturing establishment, and a limited brewery license or restricted brewery licensed pursuant to R.S.33:1-10. The amount of the tax credit authorized under the bill may not exceed 50 percent of the tax liability otherwise due. Any unused credit amount not applied because of this limit may be carried forward for up to 20 of the next tax years. The Director of the Division of Taxation in the Department of the Treasury, in consultation with the Secretary of Agriculture, would be required to adopt rules and regulations necessary to administer the "Grown Here, Eaten Here Act" tax credit program.

AI Summary

Committee Categories

Mike Testa (R)*, 

Introduced in the Senate, Referred to Senate Economic Growth Committee (on 09/30/2024)

Official Document