Bill > A3677

This bill allows owners and operators of long-term care facilities, which include nursing homes, assisted living residences, and similar licensed facilities, to receive tax credits against either the corporation business tax or the gross income tax if they increase the number of residential units designated for single occupancy by at least five percent. The credit is calculated as $100 for every five-percent increase in single-occupancy units, with a maximum credit of $2,000 per taxable year or privilege period. The bill specifies that these credits cannot reduce a taxpayer's liability below a statutory minimum for the corporation business tax, and cannot reduce the gross income tax liability below zero, with any unused credit not being carried forward. The Director of the Division of Taxation will determine the order in which these credits are applied alongside other available tax credits.

Health and Social Services

https://www.njleg.state.nj.us/bill-search/2026/A3677