Assembly Commerce, Economic Development and Agriculture Committee Statement to Assembly, No. 4382 (2026)

Summary

An Assembly Commerce, Economic Development and Agriculture Committee statement to Assembly, No. 4382, State of New Jersey, dated January 5, 2026, reporting the bill favorably. The bill revises the Garden State Film and Digital Media Tax Credit Program, which provides corporation business tax and gross income tax credits for certain film and digital media production expenses. It requires all original music and original musical scores developed for such productions to be produced and recorded domestically in the United States or any of its territories. The bill was pre-filed for introduction in the 2024-2025 session pending technical review.

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ASSEMBLY COMMERCE, ECONOMIC DEVELOPMENT AND AGRICULTURE
COMMITTEE

STATEMENT TO

ASSEMBLY,
No. 4382

STATE
OF NEW JERSEY

DATED: JANUARY
5, 2026

The Assembly Commerce, Economic Development and
Agriculture Committee reports favorably Assembly Bill No. 4382.

The
bill revises the Garden State Film and Digital Media Tax Credit Program, which
provides corporation business tax and gross income tax credits for expenses
incurred for the production of certain films and digital media content.
Specifically, the bill revises the tax credit program to include an additional
criterion for certain film and digital media content expenses to be considered
eligible for the tax credit.

The
bill adds a requirement to the tax credit program for taxpayers that produce
films and digital media content that include original music or original musical
scores. The bill requires all original music and original musical scores
developed for the production of film or digital media content to be produced
and recorded domestically in the United States or any of its territories.

This bill was pre-filed for introduction in the
2024-2025 session pending technical review. As reported, the bill includes the
changes required by technical review, which has been performed.

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