S 4070

This bill creates the Fusion Energy and Technology Incentive Program within the New Jersey Economic Development Authority to promote the development of fusion energy facilities by offering tax credits to property owners who lease power plant sites to fusion energy or technology companies. The program aims to repurpose existing power plant infrastructure—including both operational and decommissioned facilities—for fusion energy generation and technology development, with eligible companies required to have headquarters or operations in New Jersey and employ skilled workers using sophisticated scientific equipment. Additionally, the bill authorizes the use of Global Warming Solutions Fund money to support these fusion energy facilities, positioning fusion energy development as part of New Jersey's climate change mitigation strategy.