34:1B-396 'Next New Jersey Program' established. 3. a. The Next New Jersey Program is hereby established as a program under the jurisdiction of the New Jersey Economic Development Authority. The authority shall administer the program to attract new investment to New Jersey in key industries, create new jobs and economic opportunities, and position New Jersey as a leader in the innovation economy. The board may approve the award of tax credits to an eligible business upon application of the chief executive officer, or equivalent officer, of the eligible business and following the payment of fees, subject to the limitations set forth in subsection b. of this section. b. The value of all tax credits approved by the authority for businesses eligible pursuant to section 4 of P.L.2024, c.49 (C.34:1B-397) shall be subject to the limitations set forth in section 98 of P.L.2020, c.156 (C.34:1B-362).L.2024, c.49, s.3.
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