A1878

New Jersey A1878 allows businesses and nonprofits to adopt stormwater management basins and provides a tax credit for such adoptions in specific.

New Jersey A1878, known as the "Adopt a Stormwater Management Basin Act," permits business entities and nonprofit organizations to adopt responsibilities related to stormwater management basins. These entities can enter into agreements with stormwater management agencies for the construction, improvement, operation, maintenance, or funding of these basins. The bill provides a corporation business tax credit for adopting basins in certain watersheds, up to $1,000 or 50% of the taxpayer's total tax liability.