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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateNew Jersey
Effected JurisdictionNew Jersey
Jurisdiction type: State
Fiscal year ending In2019
Program nameBusiness Employment Incentive Program
Program purpose: Job Creation/Retention
Statutory authority: P.L. 1996, c.26
Abating jurisdiction(s): State of New Jersey
Applicable taxesCorporate Business Tax; Insurance Premium Tax; Cash incentive
Method of abatement: Tax Credit; cash reimbursement
Provisions for recapture: the New Jersey Economic Development Authority is authorized to issue a recapture assessment of all or a portion of Tax Credits, which shall be based upon the proportionate value of the grant of Tax Credits that corresponds to the amount and period of noncompliance.
Gross revenue loss: $50,840,000
Reimbursement / offset: $0
Net revenue loss: $50,840,000
Type of loss: Active
Additional notes on dislosure(none)
Document sourcehttps://www.nj.gov/treasury/omb/fr.shtml