Section 1 Short title
This Act may be cited as the “Jersey Pride Tax Credit Act of 2026”.
Jersey Pride Tax Credit Act of 2026
A BILL
To amend the Internal Revenue Code to create a tax credit for taxpayers selling products that promote New Jersey and to direct port authorities to give retail space preference to businesses that sell such products.
Sec. 2 Jersey pride tax credit
New Jersey promotion tax credit— Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
“45BB. Jersey pride tax credit
“(a) In general—For the purposes of section 38, the Jersey pride tax credit is an amount equal to 25 percent of the aggregate amount for which the taxpayer sold eligible products in the course of the trade or business of the taxpayer to unrelated parties during the taxable year.
“(b) Eligible product—In this section, the term “eligible product” means any product that promotes the State of New Jersey.”
Credit made part of general business credit— Section 38 of subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986, is amended—
by striking “plus” at the end of paragraph (40),
by striking the period at the end of paragraph (41) and inserting “, plus”, and
by adding at the end the following new paragraph:
“(42) the Jersey pride tax credit determined under section 45BB.”
Clerical amendment— The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item:
Effective date— The amendment made by this section shall apply to products sold after December 31, 2025.
Sec. 3 Port Authority preference
In renting a commercial space to a business, a port authority (as defined in section 340.2 of title 46, Code of Federal Regulations) shall give preference to any business that sells an eligible product (as defined in section 45BB of the Internal Revenue Code of 1986).