Reduces tax credits for Next New Jersey Program; reallocates funds for energy storage projects and tax credits for lower-income residential electric.

The "End Data Center Tax Credits Act" reduces the tax credits available for the Next New Jersey Program by $250 million and reallocates these funds for energy storage projects and gross income tax credits for lower-income residential electric customers. The bill authorizes the Board of Public Utilities to award tax credits to developers of energy storage projects and establishes a one-time gross income tax credit of $100 for residential electric customers with a gross income of $55,000 or less.

Reduces tax credits for Next New Jersey Program; reallocates funds for energy storage projects and tax credits for lower-income residential electric.

The "End Data Center Tax Credits Act" reduces the tax credits available for the Next New Jersey Program by $250 million and reallocates these funds for energy storage projects and gross income tax credits for lower-income residential electric customers. The bill authorizes the Board of Public Utilities to award tax credits to developers of energy storage projects and establishes a one-time gross income tax credit of $100 for residential electric customers with a gross income of $55,000 or less.