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119-hr-8655119th CongressWALLET

Jersey Pride Tax Credit Act of 2026

Sponsored By: Representative Gottheimer, Josh [D-NJ-5]

Introduced

Summary

Jersey pride tax credit creates a new business tax credit for sales of products that promote New Jersey and makes port authorities prefer retailers that sell those products. The measure ties a tax incentive to state-promoting goods and gives those sellers an edge for port retail space.

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  • Businesses that sell "eligible products" can claim a general business credit equal to 25 percent of their aggregate sales of those products to unrelated parties in a taxable year. This reward applies when the product promotes the State of New Jersey.
  • Port authorities must give preference in renting commercial retail space to businesses that sell the eligible products linked to the credit. That preference is tied to the credit's eligibility rules.
  • The bill adds section 45BB to the Internal Revenue Code and treats the Jersey pride tax credit as part of the General Business Credit. The rule applies to products sold after December 31, 2025.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 2 benefits, 0 costs, 0 mixed.

Tax credit for Jersey products

This bill would create a new Jersey Pride tax credit equal to 25% of the dollar amount a business sold of eligible products to unrelated parties during the taxable year. An "eligible product" would mean any product that promotes the State of New Jersey. The credit would be added to the General Business Credit and would apply to products sold after December 31, 2025. The bill text does not specify caps, sunsets, carryforwards, or special funding rules for the credit.

Port rental preference for Jersey sellers

This bill would require a port authority (as defined in 46 CFR 340.2) to give preference when renting commercial space to businesses that sell "eligible products" that promote New Jersey. The preference would use the same "eligible product" definition tied to the Jersey Pride tax credit. This is an administrative leasing preference and would take effect upon enactment.

Sponsors & CoSponsors

Sponsor

Gottheimer, Josh [D-NJ-5]

NJ • D

Cosponsors

  • Rep. Pou, Nellie [D-NJ-9]

    NJ • D

    Sponsored 5/4/2026

Roll Call Votes

No roll call votes available for this bill.

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