Provides a corporation business tax credit for investment in certain manufacturing equipment, facility renovation, modernization, and expansion.

S 1335 provides a 20% tax credit against New Jersey's corporation business tax for businesses investing in new manufacturing equipment or facility improvements (renovation, modernization, or expansion) at their manufacturing facilities within the state. The credit covers 20% of qualifying costs and can be carried forward for up to seven tax years if not fully used in the current year. It prevents double-dipping by disallowing the same expenses from being claimed under other credits like the New Jobs Investment Tax Credit. The credit applies only to facilities where over half of the equipment is used for manufacturing, as defined by the bill.