New Jersey § 34:1b-295
Full text of New Jersey New Jersey Statutes § 34:1b-295, with citation guidance and answers to common questions.
§ 34:1b-295.
a. A purchaser may apply to the authority and the director for a tax credit transfer
certificate in lieu of the purchaser being allowed to apply any amount of the tax credit against
the purchaser's State tax liability. A tax credit may be sold or assigned, in full or in part, to another person that may
have a tax liability pursuant to section 5 of P.L.1945, c. 162 ( C.54:10A-5 ) , sections 2 and 3 of P.L.1945, c. 132 ( C.54:18A-2 and C.54:18A-3 ), section 1 of P.L.1950, c. 231 ( C.17:32-15 ), or N.J.S.17B:23-5 . The tax credit transfer certificate provided to the purchaser shall include a statement
waiving the purchaser's right to claim the credit that the purchaser has elected to
sell or assign. b. The purchaser shall not sell or assign a tax credit transfer certificate allowed
under this section for consideration received by the purchaser of less than 85 percent
of the transferred credit amount before considering any further discounting to present
value which shall be permitted. The tax credit transfer certificate issued to a purchaser by the director shall be
subject to any limitations and conditions imposed on the application of State tax
credits pursuant to section 26 of P.L.2020, c. 156 ( C.34:1B-294 ) and any other terms and conditions that the director may prescribe. c. A buyer or assignee of a tax credit transfer certificate pursuant to this section
shall not make any subsequent transfers, assignments, or sales of the tax credit transfer
certificate. d. Ten percent of the consideration received by a purchaser from the sale or assignment
of a tax credit transfer certificate pursuant to this section shall be remitted to
the director and deposited in the General Fund of the State. e. The authority shall publish on its Internet website the following information concerning
each tax credit transfer certificate approved by the authority and the director pursuant
to this section: (1) the name of the transferor; (2) the name of the transferee; (3) the value of the tax credit transfer certificate; (4) the State tax against which the transferee may apply the tax credit; and (5) the consideration received by the transferor.
Frequently Asked Questions About New Jersey § 34:1b-295
What does New Jersey Statutes § 34:1b-295 cover?
Section 34:1b-295 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 34:1b-295?
A common citation format is "New Jersey Statutes § 34:1b-295" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 34:1b-295 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.