119 HR 8655 IH: Jersey Pride Tax Credit Act of 2026 U.S. House of Representatives 2026-05-04 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I119th CONGRESS2d SessionH. R. 8655IN THE HOUSE OF REPRESENTATIVESMay 4, 2026Mr. Gottheimer (for himself and Ms. Pou) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concernedA BILLTo amend the Internal Revenue Code to create a tax credit for taxpayers selling products that promote New Jersey and to direct port authorities to give retail space preference to businesses that sell such products.

1.

Short title

This Act may be cited as the Jersey Pride Tax Credit Act of 2026.

2.

Jersey pride tax credit

(a)

New Jersey promotion tax credit

Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:

45BB.

Jersey pride tax credit

(a)

In general

For the purposes of section 38, the Jersey pride tax credit is an amount equal to 25 percent of the aggregate amount for which the taxpayer sold eligible products in the course of the trade or business of the taxpayer to unrelated parties during the taxable year. (b)

Eligible product

In this section, the term eligible product means any product that promotes the State of New Jersey.

. (b)

Credit made part of general business credit

Section 38 of subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986, is amended— (1)by striking plus at the end of paragraph (40), (2)by striking the period at the end of paragraph (41) and inserting , plus, and (3)by adding at the end the following new paragraph: (42)the Jersey pride tax credit determined under section 45BB.. (c)

Clerical amendment

The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45BB. Jersey pride tax credit. . (d)

Effective date

The amendment made by this section shall apply to products sold after December 31, 2025.

3.

Port Authority preference

In renting a commercial space to a business, a port authority (as defined in section 340.2 of title 46, Code of Federal Regulations) shall give preference to any business that sells an eligible product (as defined in section 45BB of the Internal Revenue Code of 1986).