SENATE ENVIRONMENT AND ENERGY COMMITTEE
STATEMENT TO
SENATE, No. 2554
STATE OF NEW JERSEY
DATED: SEPTEMBER 13, 2018
The Senate Environment and Energy Committee favorably reports Senate Bill No. 2554.
This bill would provide corporation business tax credits to public utilities that develop qualified native pollinator habitat in their rights of way. Specifically, for privilege periods beginning on or after January 1 next following the effective date of the bill, a taxpayer that is a public utility that develops qualified native pollinator habitat in its rights of way, and that meets the requirements of the bill, would be allowed a credit against the corporation business tax in an amount equal to 50 percent of the reasonable cost expended for developing the qualified native pollinator habitat, up to $50,000. For the purposes of this bill, qualified native pollinator habitat means an area of land developed as habitat beneficial for the feeding, nesting, and reproduction of native pollinators, such as bees, as determined by the Department of Agriculture. Qualified native pollinator habitat must utilize plants that are native to New Jersey.
To qualify for the credit, a public utility would be required to apply for, and be issued, a certification from the Secretary of Agriculture that: (1) the area developed is qualified native pollinator habitat; (2) establishes the amount of the tax credit; and (3) the public utility has entered into an agreement with the owner of the right of way permitting development of the qualified native pollinator habitat, as applicable. The application would include a description of the qualified native pollinator habitat, its precise locations, the cost for developing it, appropriate documentation of that cost, and any other information the Department of Agriculture determines relevant. When filing a tax return that includes a claim for a credit pursuant to this bill, the public utility would have to include a copy of the certification issued by the Secretary of Agriculture.