Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Jersey Pride Tax Credit Act of 2026 creates a federal tax credit equal to 25 percent of sales revenues for businesses that sell products promoting New Jersey. The credit applies to taxpayers selling eligible products to unrelated parties and becomes effective for products sold after December 31, 2025. The bill also requires port authorities to give preference to businesses selling New Jersey-promoting products when renting commercial retail space at ports. The legislation affects businesses of all sizes that manufacture or sell New Jersey-branded merchandise, as well as port authorities that manage retail spaces. No specific funding amount is designated in the bill, as the tax credit's cost depends on the volume of eligible product sales claimed by taxpayers in future years.
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