Grants credit against business income taxes to developer of rental housing reserved for occupancy by veterans.

New Jersey bill A3295 creates a tax credit for developers who build rental housing exclusively for veterans. Developers receive a 10% credit against business income taxes based on "approved costs" like construction, rehabilitation, and related expenses for properties where all units are reserved for veterans. The credit is non-refundable, capped at $5 million annually statewide, and requires a 15-year occupancy commitment by veterans. To qualify, developers must apply to the Department of Community Affairs, submit project plans, and maintain veteran occupancy for the full term.