Excludes gains on sales of certain real estate purchases from taxation under corporation business tax and gross income tax.

This bill excludes profits from selling certain types of real estate from New Jersey's corporation business tax and gross income tax. It applies to business taxpayers who purchased investment property (not occupied by them) during a three-year window starting when the bill becomes law, and held it for over two years. The exclusion does not cover vacant land or unimproved property, but includes land in active subdivisions marketed for sale. The policy aims to incentivize real estate investment by reducing tax on long-term sales of qualifying properties.