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.