Bill
Bill > A3295
NJ A3295
NJ A3295Provides CBT and gross income tax credit for certain capital investments in film production facility.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill provides a tax credit for capital investment in a film production facility to incentivize the growth of a permanent film industry presence in New Jersey. If a taxpayer makes at least a $30 million capital investment in a film production facility, the taxpayer will be eligible for a credit against the corporate business tax or gross income tax. The credit will be in the amount of 30 percent of the capital investment, and can be claimed in the year it is earned or the seven subsequent years. The credit can also be transferred to another taxpayer. The bill caps the amount of credits granted per year at $100 million. To be eligible for the credit, the capital investment must be for a production facility with at least 50,000 square feet of space and which contains at least one sound stage. In addition, the capital investment must be made during the years the Garden State Film and Digital Media Jobs Act (P.L.2018, c.56 as amended by P.L.2019, c.506) remains in effect (through July 1, 2028).
AI Summary
This bill establishes a tax credit for businesses that make significant capital investments in film production facilities in New Jersey, aiming to foster a permanent film industry presence in the state. To qualify, a taxpayer must invest at least $30 million in a production facility that is at least 50,000 square feet and includes a sound stage, with the investment occurring between July 1, 2020, and July 1, 2028. The credit will be for 30% of the capital investment and can be applied against either the corporate business tax or the gross income tax. This credit can be claimed in the year it's earned or carried forward for up to seven years, and it can also be transferred to another taxpayer for cash, though the sale price must be at least 75% of the credit's value. The total amount of credits granted annually is capped at $100 million, and the New Jersey Economic Development Authority (NJEDA) and the Director of the Division of Taxation are authorized to adopt emergency rules to implement these provisions.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee (on 01/13/2026)
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/2026/A3295 |
| BillText | https://pub.njleg.gov/Bills/2026/A3500/3295_I1.HTM |
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