Data Center Record.

Laws · New Jersey · S. 3432

S. 3432: An Act concerning the development of artificial intelligence innovations, ventures, and facilities, and amending and supplementing P.L.2020, c.156.

New Jersey, 2024-2025 Regular Session. Signed, July 25, 2024.

Last verified

Status Signed Signed, .

Official summary

The act establishes the Next New Jersey Program, a tax credit for a business primarily engaged in the artificial intelligence industry or the large scale artificial intelligence data center industry. A business qualifies on a capital investment of at least $100,000,000 at the qualified business facility and at least 100 new full time jobs, on applications made before March 1, 2029. Section 2 defines an AI data center as a facility built to handle the computational needs of artificial intelligence applications. Section 10 sets aside, from fiscal year 2025, an amount not to exceed $500,000,000 of the credits otherwise available to the Aspire and Emerge programmes for projects awarded a credit under this act.

From the bill text, source 1. The record carries no summary of its own; a press release is never the source.

Description

Establishes Next New Jersey Program for artificial intelligence investments.

As published by the legislature, source 2. It is the legislature's own line about the measure, not a summary of it.

Measure Bill.

Sponsors Not on file.

Subjects None on file. The legislature's own list.

Official page pub.njleg.gov/Bills/2024/AL24/49_.HTM.

What happened, and when

  1. July 25, 2024 Signed

    S. 3432 was signed. pub.njleg.gov primary source [1] The official action text: Approved P.L.2024, c.49..

Newest first. A stage is never overwritten; each entry carries the source it rests on. The status at the top is derived from the newest entry. The action text in Researcher mode is the legislature's own wording.

Sources

  1. S. 3432 on the legislature's site pub.njleg.gov
  2. The description as the legislature publishes it www.njleg.state.nj.us

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Data Center Record, "S. 3432: An Act concerning the development of artificial intelligence innovations, ventures, and facilities, and amending and supplementing P.L.2020, c.156.", https://datacenterrecord.org/bills/nj-2024-s-3432. Data: Data Center Record, datacenterrecord.org, CC BY 4.0.

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