All Roll Calls
Yes: 131 • No: 51
New JerseyA5687220th Legislature (2024-2025)HouseWALLET
Establishes Next New Jersey Manufacturing Program to incentivize in-State manufacturing investments and job creation.
Sponsored By: Linda R. Greenstein (Democratic), Louis D. Greenwald (Democratic), Antwan L. McClellan (Republican), Verlina Reynolds-Jackson (Democratic), Michael L. Testa Jr. (Republican)
Signed by Governor
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Bill Overview
Analyzed Economic Effects
6 provisions identified: 1 benefits, 2 costs, 3 mixed.
Manufacturing credits share capped state funding
Beginning in fiscal year 2026, up to $500 million annually shifts from Aspire and Emerge credits to manufacturing, excluding transformative-project credits. Of that allocation, $100 million is reserved for eligible clean energy product manufacturers. The program reserves $100 million exclusively for those manufacturers during its first two application years; unawarded amounts open to all eligible businesses in year three. Manufacturing credits count toward a shared $11.5 billion ceiling over nine years across the listed state development programs. Within that ceiling, $2.5 billion is reserved for transformative Aspire projects, with a $400 million limit per transformative project.
Manufacturers receive tax credits over five years
The base award is the smallest of three amounts: 0.1% of eligible investment multiplied by new full-time jobs, 25% of investment, or $150 million. The authority can add bonuses totaling up to 5% of the base award. Eligible investment includes construction, equipment, installation, and capital leases; soft costs are capped at 20%, while land purchases, vehicles, and non-permanent heavy equipment are excluded. The five-year credit period starts when the authority accepts proof that investment and job requirements are met. Claims can begin after occupancy permits for part of the project or another agreed completion event, with no more than one-fifth of the total award used per tax period.
Manufacturers face investment, wage, and union rules
Applicants must invest at least $10 million and create at least 20 new full-time New Jersey jobs at a mainly manufacturing facility. They must work in a targeted industry or its supply chain and have at least one active, signed union agreement. Eligible jobs require at least 35 hours weekly, health benefits, and 80% of work time in New Jersey; contract workers do not count. Median pay must reach 120% of the county manufacturing median, and construction and building-services workers must receive prevailing wages. Businesses must also meet training-partnership, environmental, sustainability, and affirmative-action rules; specified other state incentives block eligibility or reuse of the same investment and workers.
Manufacturers risk losing credits for broken commitments
Before credits are issued, businesses need site-plan approval, committed financing, site control, and an agreement keeping the project in New Jersey for at least 10 years. Throughout that period, annual reports must document jobs, pay, tax returns, and payroll, with chief-executive certification under penalty of perjury. Missing required records forfeits that year's award; first and last eligibility years are prorated by full months. Jobs or salaries below 80% of the higher agreement or program requirement forfeit credits for that and later tax periods until the authority approves proof of recovery. The authority can audit records and recover credits for breaches, plus interest, penalties, and collection costs; material misrepresentation forfeits all awards and can bring civil or criminal penalties.
Manufacturers can sell credits with limits
Unused credits carry forward for up to 10 tax periods, but cannot reduce corporation business tax below its statutory minimum. Instead of claiming credits, businesses can seek transfer certificates within three years of the tax period when credits are first allowed, then sell within three years of receipt. Transfers must cover at least $25,000 in credits and pay at least 85% of face value before any permitted present-value discount. Buyers cannot resell certificates and can use transferred credits in the issuance period or the next three tax periods. Sellers give up the right to claim sold credits and remain liable for recapture, not buyers; the authority publishes buyer, seller, credit-value, and payment details.
Manufacturers gain credits but pay application costs
Effective August 13, 2025, the law creates the Next New Jersey Manufacturing Program through the New Jersey Economic Development Authority. A business's chief executive must apply before March 1, 2029, certify application statements under penalty of perjury, and pay required fees. Applicants also pay the full direct cost of any third-party review the authority requires. Businesses must pass state labor, environmental, and tax standing checks, or have an accepted agreement with a practical correction plan. They must also certify that contractors and subcontractors meet registration, non-debarment, and tax-clearance rules.
Sponsors & Cosponsors
Sponsors
Linda R. Greenstein
Democratic • Senate
Louis D. Greenwald
Democratic • House
Antwan L. McClellan
Republican • House
Verlina Reynolds-Jackson
Democratic • House
Michael L. Testa Jr.
Republican • Senate
Cosponsors
Rosaura Bagolie
Democratic • House
David Bailey Jr.
Democratic • House
Margie Donlon M.D.
Democratic • House
Shama A. Haider
Democratic • House
Andrea Katz
Democratic • House
Cody D. Miller
Democratic • House
Carmen Theresa Morales
Democratic • House
Carol A. Murphy
Democratic • House
Luanne M. Peterpaul Esq.
Democratic • House
Holly T. Schepisi
Republican • Senate
Balvir Singh
Democratic • House
Troy Singleton
Democratic • Senate
Parker Space
Republican • Senate
Lisa Swain
Democratic • House
Chris Tully
Democratic • House
Roll Call Votes
House vote • 6/30/2025
3RDG FINAL PASSAGE
Yes: 65 • No: 9 • Other: 6
Senate vote • 6/30/2025
3RDG FINAL PASSAGE
Yes: 39 • No: 0
House vote • 6/30/2025
MOTION STRIKE OUT
Yes: 27 • No: 42
Actions Timeline
Approved by Governor — P.L.2025, c.123.
8/13/2025GovernorPassed Senate, PBH — (39-0)
6/30/2025SenateSubstituted for S4407 (1R)
6/30/2025SenateReceived in Senate, SWR, 2nd Reading in Senate
6/30/2025SenatePassed Assembly — (65-9-6)
6/30/2025HouseMOTION — Rule 13:7 Lost (27-42-0) (Bergen)
6/30/2025HouseREP/ACA, 2nd Reading in Assembly
6/26/2025HouseRCM Assembly Budget Committee
6/26/2025HouseREP/ACA, 2nd Reading in Assembly
6/19/2025HouseREP/ACA, Referred to Assembly Appropriations Committee
6/16/2025HouseIntroduced, 1st Reading in Assembly, Referred to Assembly Labor Committee
5/15/2025House
Bill Text
Version PL2025
10/3/2025
Version AL2025
9/16/2025
7/3/25; 3R
7/3/2025
Assembly Budget (6/26/25 3R)
7/1/2025
Assembly Budget Substitute (6/26/25 2R)
6/27/2025
Assembly Appropriations (6/19/25 2R)
6/26/2025
6/24/25; 1R
6/24/2025
Assembly Appropriations Substitute (6/19/25 1R)
6/19/2025
Assembly Labor (6/16/25 1R)
6/19/2025
Assembly Labor Substitute (6/16/25)
6/17/2025
As Introduced
6/13/2025
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