New data centers in N.J. no longer eligible to receive tax credits, law says

New data centers in N.J. will no longer be eligible to receive tax credits, according to a law recently signed by Gov. Mikie Sherrill. The bill ends a 2024 law that created a $500 million tax break to bring artificial intelligence companies to the state. It was approved to address complaints of increasing energy bills, lawmakers said. Sherrill also signed a law that requires data centers to report their energy and water usage.

From Bloomberg Tax.