The New Jersey Housing and Mortgage Finance Agency (NJHMFA) will be auctioning up to $500 million in New Jersey State tax credits beginning in Fall of 2025. Each year, at most, $100 million in State tax credits will be awarded. The minimum bid price per tax credit is $0.80 on the dollar.​​

Awarded State tax credits can be applied to the Corporate Business Tax or Insurance Premium Tax at any point during the seven years following purchase at the auction. ​​

All qualifying New Jersey businesses are encouraged to participate in this exciting tax savings opportunity, which affords New Jersey taxpayers the opportunity to realize direct, dollar for dollar tax reductions while supporting critical investment in the Garden State. Proceeds from each annual auction will be invested in the production of affordable and workforce housing.​​

To learn more about this new State tax credit auction, including eligibility details and auction processes and timing, please register for email updates below. Should you have any questions, please contact auction@njhmfa.gov.