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S 4619

Modifies certain provisions of "New Jersey Innovation Evergreen Act."

2024-2025 Regular Session Introduced by Linda Greenstein and 1 co-sponsor

S 4619 modifies New Jersey's Innovation Evergreen Act tax incentive program, later revised by Assembly bill A5795, affecting business eligibility and state economic development strategy.

Substituted by A5795
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Bill Summary · S 4619

Legislative bill overview

S 4619 modifies provisions of New Jersey's Innovation Evergreen Act, which provides tax incentives and support for technology and innovation-based businesses in the state. The bill was introduced in June 2025 and subsequently substituted by Assembly bill A5795, indicating substantive revisions were made during the legislative process.

Why is this important

The Innovation Evergreen Act is a key economic development tool designed to attract and retain high-growth companies in New Jersey. Modifications to this program directly affect which businesses qualify for tax benefits, how much support they receive, and the state's ability to compete with other states for technology sector investment and job creation.

Potential points of contention

  • Eligibility criteria changes: Modifications to which businesses or industries qualify for incentives could benefit some sectors while disadvantaging others
  • Tax revenue trade-offs: Expanded or restricted tax incentive provisions affect state budget revenue while attempting to stimulate economic growth
  • Program administration and oversight: Changes to how the program operates may alter compliance requirements, reporting standards, or accountability measures

Compiled from official sources — confirm details with the bill’s official record.

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