This bill establishes a tax credit program for production companies involved in accredited Pre-Broadway and Post-Broadway theater productions performed at qualified facilities in New Jersey. Specifically, it allows a credit equal to 35 percent of the production and performance expenditures incurred by the taxpayer. Eligible expenditures include costs related to design, construction, operation, payroll (up to $250,000 per week), and certain advertising and transportation expenses. The total value of tax credits awarded in any fiscal year is capped at $10 million.

To access these tax credits, production companies must apply to the New Jersey Economic Development Authority, which will issue an initial certification. The Director of the Division of Taxation will then make a final determination on the credits within 30 days of receiving the certification. The bill also mandates that the authority submit an annual report detailing the applications and credits awarded, ensuring transparency and accountability in the program.