What does Preamble of Jersey Pride Tax Credit Act of 2026 do?

This bill, formally titled '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,' aims to create a tax credit for taxpayers selling products promoting New Jersey. The bill also directs port authorities to prioritize retail space for businesses selling products that promote New Jersey.

What does SHORT TITLE. of Jersey Pride Tax Credit Act of 2026 do?

This bill is formally titled the Jersey Pride Tax Credit Act of 2026.

What does JERSEY PRIDE TAX CREDIT. of Jersey Pride Tax Credit Act of 2026 do?

This section establishes a new tax credit, the 'Jersey Pride Tax Credit,' under the Internal Revenue Code. The credit is equal to 25 percent of the aggregate amount for which a taxpayer sold 'eligible products' to unrelated parties. An 'eligible product' is defined as any product that promotes the State of New Jersey. The Jersey Pride Tax Credit is made part of the General Business Credit. The amendment applies to products sold after December 31, 2025.

What does PORT AUTHORITY PREFERENCE. of Jersey Pride Tax Credit Act of 2026 do?

This section establishes a preference for businesses selling eligible products when a port authority rents commercial space. The preference applies to port authorities as defined in 46 C.F.R. § 340.2. Eligible products are defined in section 45BB of the Internal Revenue Code of 1986.

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Jersey Pride Tax Credit Act of 2026

Last updated: 5/4/2026 · Introduced: 5/4/2026

Author: Josh Gottheimer (D-NJ)

TL;DR (AI)

This bill creates a new federal tax credit, the 'Jersey Pride Tax Credit,' equal to 25% of sales for products promoting New Jersey.
The bill directs port authorities to prioritize leasing commercial space to businesses selling products that promote New Jersey.
Products that promote the State of New Jersey are defined as 'eligible products' for both the tax credit and port authority preference.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 2 more.

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