New Jersey A3677 provides tax credits for long-term care facilities that increase single occupancy units by at least five percent.

New Jersey A3677 provides corporation business tax and gross income tax credits to long-term care facilities that increase the number of residential units reserved for single occupancy by at least five percent. The credit is $100 for every five-percent increase, up to $2,000 per taxable year or privilege period. The bill applies to nursing homes, assisted living residences, comprehensive personal care homes, residential health care facilities, and dementia care homes licensed by the state. The tax credit cannot reduce a taxpayer's liability below zero.

New Jersey A3677 provides tax credits for long-term care facilities that increase single occupancy units by at least five percent.

New Jersey A3677 provides corporation business tax and gross income tax credits to long-term care facilities that increase the number of residential units reserved for single occupancy by at least five percent. The credit is $100 for every five-percent increase, up to $2,000 per taxable year or privilege period. The bill applies to nursing homes, assisted living residences, comprehensive personal care homes, residential health care facilities, and dementia care homes licensed by the state. The tax credit cannot reduce a taxpayer's liability below zero.