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

This bill provides a 10% tax credit against New Jersey business income taxes to developers who build rental housing reserved exclusively for veterans. The credit covers approved construction and rehabilitation costs (including land, materials, labor, and professional fees) up to the developer's annual tax liability, with a total annual cap of $5 million across all developers. To qualify, housing must be reserved for veterans for at least 15 years, and developers must obtain a Department of Community Affairs eligibility certificate before claiming the credit. The credit applies to new construction or rehabilitation projects meeting specific criteria, aiming to increase veteran housing access while reducing developers' tax burden.