Provides corporation business tax and gross income tax credits to long-term care facilities that increase number of residential units reserved for single occupancy by at least five percent.

This bill provides tax credits to New Jersey long-term care facilities that increase single-occupancy residential units by at least five percent. The credit amounts to $100 for every five percent increase, capped at $2,000 per tax year, and applies against either corporation business tax or gross income tax. It covers licensed facilities including nursing homes, assisted living residences, and dementia care homes under state law. Facilities must meet the five percent increase requirement during the taxable year to qualify for the credit.