"Green Building Tax Credit Act."

The Green Building Tax Credit Act provides tax credits to New Jersey businesses and property owners who construct or retrofit buildings meeting specific green building standards. The credit equals 4% of eligible construction costs plus an additional 0.5% to 2.0% based on the building’s LEED certification level (Certified to Platinum), with costs capped at $280 per square foot. Eligible expenses include construction, design, and site improvements but exclude items like computers, fuel cells, and land purchases. The credit reduces taxes under several New Jersey tax acts and requires a state report on program usage within six years.