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S4390 • 2026

"End Data Center Tax Credits Act"; reduces tax credits available for Next New Jersey Program.*

"End Data Center Tax Credits Act"; reduces tax credits available for Next New Jersey Program.*

Budget Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Cryan, Joseph P.
Last action
2026-06-30
Official status
Passed Assembly (Passed Both Houses) (74-4-0)
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

"End Data Center Tax Credits Act"; reduces tax credits available for Next New Jersey Program.*

"End Data Center Tax Credits Act"; reduces tax credits available for Next New Jersey Program.* Topic: Passed both Houses Fiscal note: This bill has been certified by OLS for a fiscal note.

What This Bill Does

  • "End Data Center Tax Credits Act"; reduces tax credits available for Next New Jersey Program.* Topic: Passed both Houses Fiscal note: This bill has been certified by OLS for a fiscal note.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-06-30 New Jersey Legislature

    Passed by the Senate (35-4)

  2. 2026-06-30 New Jersey Legislature

    Received in the Assembly without Reference, 2nd Reading

  3. 2026-06-30 New Jersey Legislature

    Substituted for A5165 (1R)

  4. 2026-06-30 New Jersey Legislature

    Passed Assembly (Passed Both Houses) (74-4-0)

  5. 2026-06-24 New Jersey Legislature

    Reported from Senate Committee with Amendments, 2nd Reading

  6. 2026-06-22 New Jersey Legislature

    Transferred to Senate Budget and Appropriations Committee

  7. 2026-06-01 New Jersey Legislature

    Introduced in the Senate, Referred to Senate Economic Growth Committee

Official Summary Text

"End Data Center Tax Credits Act"; reduces tax credits available for Next New Jersey Program.*
Topic:
Passed both Houses
Fiscal note:
This bill has been certified by OLS for a fiscal note.

Current Bill Text

Read the full stored bill text 
S4390 1R FISCAL ESTIMATE

LEGISLATIVE FISCAL ESTIMATE

[First Reprint]

SENATE, No. 4390

STATE OF NEW JERSEY

222nd LEGISLATURE

DATED: JULY 2, 2026

SUMMARY

Synopsis:

"End Data Center Tax Credits Act"; reduces tax
credits available for Next New Jersey Program.

Type of Impact:

State revenue reallocation.

Agencies Affected:

New Jersey Economic Development Authority.�

Office of
Legislative Services Estimate

Fiscal Impact

State Revenue Reallocation

$250.0 million

�

The Office of Legislative Services (OLS) determines that reducing
the amount of tax credits available for the Next New Jersey Program will not
have a fiscal impact on State revenues, nor generate additional State revenues.

�

Reducing the amount of tax credits available for the Next New
Jersey Program reallocates the tax credits back to the New Jersey Aspire
Program and the Emerge Program.� Thus, the actual fiscal impact of the bill
will depend on credit utilization under these programs.

BILL DESCRIPTION

����� This bill, designated as the End Data Center Tax
Credits Act, reduces the tax credits available for the Next New Jersey Program
by $250 million.

����� Under current law, the total value of tax credits
available under the Next New Jersey Program is $500 million for certain
projects related to the development of artificial intelligence or data centers.�
This bill reduces the total amount of tax credits available under the Next New
Jersey Program by $250 million.

FISCAL ANALYSIS

EXECUTIVE BRANCH

����� None received.

OFFICE OF LEGISLATIVE SERVICES

����� The OLS determines that reducing the amount of tax
credits available for the Next New Jersey Program will not have a fiscal impact
on State revenues, nor would the reduction generate additional State revenues.�

����� Under current law, the tax credits available for the
Next New Jersey Program are apportioned from the amount initially allocated to
the New Jersey Aspire Program and the Emerge Program.� By reducing the amount
of tax credits available for the Next New Jersey Program, the bill reallocates
the tax credits back to the Aspire and Emerge programs.� Thus, the bill does
not reduce the cumulative amount of tax credits authorized under current law
and does not result in any direct increase in State revenues.� The actual
fiscal impact of the bill will depend on credit utilization under Aspire and
Emerge.

����� Additionally, as of May 2026, the New Jersey Economic
Development Authority has awarded $250 million in tax credits to one project
under the Next New Jersey program, which is not impacted by this bill.

Section:

Revenue, Finance and Appropriations

Analyst:

Camryn Mathews

Associate Fiscal Analyst

Approved:

Thomas Koenig

Legislative Budget and Finance Officer

This legislative fiscal estimate has been produced by the
Office of Legislative Services due to the failure of the Executive Branch to
respond to our request for a fiscal note.

This fiscal estimate has been prepared pursuant to P.L.1980,
c.67 (C.52:13B-6 et seq.).