The Grown Here, Eaten Here Act aims to support local agriculture by providing tax credits to qualifying food establishments in New Jersey. Specifically, the bill allows a credit against the Corporation Business Tax and the New Jersey Gross Income Tax for 10 percent of the costs incurred by these establishments when purchasing eligible ingredients—defined as fruits, vegetables, crops, or other ingredients grown or manufactured in the state. Qualifying establishments include restaurants, food manufacturing businesses, and certain breweries. The total amount of credits applied cannot exceed 50 percent of the tax liability, and any unused credits can be carried forward for up to 20 subsequent tax years.

Additionally, the bill stipulates that the Director of the Division of Taxation, in consultation with the Secretary of Agriculture, will establish necessary rules and regulations to implement the tax credit program. The act is set to take effect immediately and will apply to taxable years and privilege periods beginning on or after January 1 following its enactment. This initiative is designed to encourage the use of locally sourced ingredients, thereby promoting the state's agricultural sector and enhancing the local economy.