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S 2200

Requires the city of New York to mitigate property damage caused by environmental issues which are caused by acts or omissions of such municipality

2025 Regular Session Introduced by Leroy Comrie

New Jersey creates a 3-year pilot offering a 50% credit on wholesale value of donated fruits/vegetables, up to $5,000 per farm per year, with a $100,000 annual cap.

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Bill Summary · S 2200

Summary — Senate Bill No. 2200 (as reflected in provided documents)

Note on source materials: the documents supplied contain inconsistent metadata (different titles, state dockets, and sponsor lists). The substantive bill text and committee reports included in Documents 1–4 describe a New Jersey measure creating a pilot tax-credit program for commercial farm donations. This summary focuses on that enacted text and fiscal analyses.

Purpose

Create a three-year pilot program that incentivizes commercial farm operators to donate fruits and vegetables fit for human consumption to in‑state charitable organizations by providing tax credits against the corporation business tax (CBT) and the New Jersey gross income tax.

Key provisions

  • Pilot period: credits available for the first three privilege periods/taxable years beginning on or after January 1 of the year following enactment.
  • Credit amount: equal to 50% of the wholesale value of donated fruit/vegetables, capped at $5,000 per commercial farm operator per privilege period/taxable year.
  • Aggregate cap: total tax credits awarded under the program limited to $100,000 per fiscal year.
  • Valuation: “Wholesale value” determined by either a quantity‑weighted average of the operator’s comparable wholesale sales in the month of donation, or, if none, the average terminal market price (using USDA Fruit & Vegetable Market News or similar).
  • Documentation: donor (farm operator) must provide the charitable organization with wholesale value and farm location at donation; the charity must issue a written statement (variety, grade, quantity, wholesale value, names/addresses). Copies of statements must be attached to tax returns claiming the credit.
  • Carryforward: unused credit amounts may be carried forward for earliest use during the next five privilege periods/taxable years.
  • Interaction with other credits: application priority and limits on reducing tax liability follow Division of Taxation rules (credit plus others cannot exceed 50% of tax liability and may not reduce tax below statutory minimums).
  • Administration & reporting: Secretary of Agriculture to establish/publish wholesale values and a donation statement form; upon approving a donation statement the Department of Agriculture notifies the Division of Taxation. Annual reports required to the Governor and Legislature (published online), with a final report to recommend continuation or adjustment of the credit percentage.

Who is affected

  • Commercial farm operators in New Jersey who donate qualifying fruits/vegetables.
  • Charitable organizations and food banks that receive donations and complete verification statements.
  • State revenue funds: General Fund and Property Tax Relief Fund (subject to OLS revenue estimate).

Fiscal impact

  • Office of Legislative Services (OLS) estimate: up to $300,000 reduction in State revenues over an eight‑year window (program operates 3 years; unused credits may be carried forward up to five additional years). Annual program cap drives this estimate (assumes $100,000/year awarded).

Legislative status & timeline (as reflected)

  • Reported with committee amendments (Senate Economic Growth; Senate Budget & Appropriations).
  • Committee changes increased credit from 10% to 50%, limited the pilot to three years, added administrative and reporting duties, and set the $100,000 annual cap.
  • According to provided actions, the bill passed the New Jersey Senate (39–0 on 3/24/2025) and was referred to the Assembly Appropriations Committee. (Other action dates in the file appear to reflect additional procedural scheduling and some cross‑jurisdictional metadata discrepancies.)

Notes / Caveat

  • Materials include conflicting docket lines and an unrelated Massachusetts bill text and different bill titles/sponsors. If you need a version‑specific summary (e.g., New York City mitigation bill referenced in the header, Massachusetts student‑loan bill, or different S.2200 in another jurisdiction), please provide the exact bill text or clarify which jurisdiction/version to summarize.

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

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