Makes various changes to "New Jersey Angel Investor Tax Credit Act" and Technology Business Tax Certificate Transfer Program; repeals "New Jersey Ignite Act."*
This bill increases tax credits for investors who fund New Jersey emerging technology businesses, raising the credit rate from 20% to 60% of qualified investments, with an additional 5% available for investments in opportunity zones, low-income communities, or certified minority/women-owned businesses. It also lowers the maximum employee count for qualifying businesses from 225 to 150 employees. The bill repeals the "New Jersey Ignite Act" while updating definitions and mechanisms for the tax credit program to better support technology startups across fields like biotechnology, renewable energy, and advanced computing. This change directly affects individual investors and venture funds making qualifying investments in New Jersey-based technology businesses.
Bill status
signed
all 5 stages cleared
Introduction
May 2024
Committee Review
Jun 2025
Senate Passage
Jun 2025
General Assembly Passage
Jun 2025
Signed into Law
Jun 2025
Introduced May 9, 2024
Signed Jun 30, 2025
Floor votes · Senate Feb 25, 2025 · General Assembly Jun 30, 2025
How they voted
38–0
Passed · 2 other
Total votes 40
Feb 25, 2025
D
Democratic25
92% Yea
R
Republican15
100% Yea
Vote distribution
All Yea
All Nay
Mixed
No data
Full legislative history
Actions timeline
Total actions
12
Key actions
7
Committee
5
Jun 30, 2025
Signed into law
Approved P.L.2025, c.71.
executive
Jun 30, 2025
Upper · Passed
Passed Senate (Passed Both Houses) (38-0)
upper
Jun 30, 2025
Lower · Passed
Passed Assembly (78-1-0)
lower
Jun 19, 2025
Lower · Passed
Reported out of Assembly Committee with Amendments, 2nd Reading
lower
Feb 25, 2025
Committee
Received in the Assembly, Referred to Assembly Appropriations Committee
lower
Feb 25, 2025
Upper · Passed
Passed Senate (38-0)
upper
Feb 3, 2025
Upper · Passed
Reported out of Senate Committee, 2nd Reading
upper
Oct 10, 2024
Committee
Referred to Senate Budget and Appropriations Committee
upper
Oct 10, 2024
Upper · Passed
Reported out of Senate Committee with Amendments, 2nd Reading
upper
May 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Economic Growth Committee
upper
5 primary · 20 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Andrew Zwicker
DDemocratic
P
Carol Murphy
DDemocratic
P
Chris DePhillips
RRepublican
P
Chris Tully
DDemocratic
P
Paul Sarlo
DDemocratic
Co
Benjie Wimberly
DDemocratic
Co
Bill Spearman
DDemocratic
Co
Britnee Timberlake
DDemocratic
Co
Clinton Calabrese
DDemocratic
Co
Cody Miller
DDemocratic
Co
Dan Hutchison
DDemocratic
Co
Declan O'Scanlon
RRepublican
Co
Ellen Park
DDemocratic
Co
Gary Schaer
DDemocratic
Co
Jessica Ramirez
DDemocratic
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