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

S 860 provides New Jersey corporations a 20% tax credit for costs of new manufacturing equipment and facility renovations, modernizations, or expansions at eligible manufacturing sites within the state. It directly affects businesses operating in New Jersey that qualify as "manufacturing facilities" (defined as locations where over 50% of property is manufacturing equipment). The credit applies to equipment used in producing taxable goods and facility upgrades, with unused credits carryable forward for up to seven years. The bill excludes these investments from other tax credits like the New Jobs Investment Credit and limits the total credit to 50% of tax liability.