A 3971

This bill establishes the Fusion Energy and Technology Incentive Program within the New Jersey Economic Development Authority (EDA) to promote the development of fusion energy facilities by offering tax credits to both property owners and fusion energy companies. The program specifically targets the conversion or utilization of existing power plant sites (including decommissioned plants) for fusion energy development by providing tax incentives to property owners who lease their power plant sites to fusion energy or technology companies, as well as to the fusion companies themselves that operate at these locations. Additionally, the bill authorizes the use of funds from the Global Warming Solutions Fund to support these fusion energy facilities, positioning fusion energy development as part of New Jersey's clean energy strategy.