Provides CBT and gross income tax credits for certain energy infrastructure upgrades.

This bill provides tax credits to electricity generators in New Jersey who upgrade existing facilities to increase grid energy output by at least 5%. Specifically, it allows a credit against corporation business tax (CBT) and gross income tax equal to up to 75% of qualifying upgrade costs (capped at $5 million per taxpayer), covering expenses like efficiency improvements, renewable integration, or grid technology enhancements. To qualify, generators must document the 5% increase in energy production (measured in kilowatt hours) through a certification process with the Board of Public Utilities. The total tax credits across all taxpayers are limited to $100 million, and the program requires a five-year effectiveness report to the Legislature.