A 1533

This bill establishes financial incentives to promote the development of advanced nuclear energy facilities in New Jersey through two main mechanisms. First, it creates a corporate tax credit of 15% (increasing to 25% for businesses that relocate to New Jersey, minority/women/veteran-owned businesses) for manufacturers of advanced nuclear reactor equipment and components who invest in new manufacturing equipment or facility improvements within the state. Second, it establishes the New Jersey Advanced Nuclear Energy Development Program under the Economic Development Authority to further encourage nuclear energy development, though the specific details of this program are not fully outlined in the excerpt provided. The tax credits can be carried forward for up to seven years if unused and are limited to 50% of a company's total tax liability in any given year.