Modifies certain provisions of Historic Property Reinvestment and Brownfields Redevelopment Incentive programs.

This bill increases tax credit amounts for businesses and developers working on historic property rehabilitation and brownfield redevelopment projects in New Jersey. For historic properties in designated areas (qualified incentive tracts or government-restricted municipalities), the maximum credit rises to 60% of rehabilitation costs or $12 million (up from 45%/ $8 million). For brownfield remediation projects in similar areas, the credit increases to 80% of costs or $12 million (up from 60%/$8 million). The bill also allows up to 50% of available credits to be allocated specifically for facade rehabilitation projects, with a maximum $4 million credit per project.