4. a. Beginning on the effective date of P.L.2024, c.49 (C.34:1B-394 et al.), but prior to March 1, 2029, to be eligible for tax credits under the program, a business's chief executive officer, or equivalent officer, shall demonstrate to the authority at the time of application that:
(1)the business will make, acquire, or lease a capital investment at the qualified business facility equal to or greater than the applicable amount set forth in subsection b. of this section;
(2)the business will create new full-time jobs in the State in an amount equal to or greater than the applicable number set forth in subsection c. of this section;
(3)the business or its division is primarily engaged in the artificial intelligence industry or the large-scale artificial intelligence data center industry
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4. a. Beginning on the effective date of P.L.2024, c.49 (C.34:1B-394 et al.), but prior to March 1, 2029, to be eligible for tax credits under the program, a business's chief executive officer, or equivalent officer, shall demonstrate to the authority at the time of application that: (1) the business will make, acquire, or lease a capital investment at the qualified business facility equal to or greater than the applicable amount set forth in subsection b. of this section; (2) the business will create new full-time jobs in the State in an amount equal to or greater than the applicable number set forth in subsection c. of this section; (3) the business or its division is primarily engaged in the artificial intelligence industry or the large-scale artificial intelligence data center industry. A business or its division shall be considered to be primarily engaged in an industry set forth herein if more than 50 percent of the business's employees are engaged in AI-related activities or more than 50 percent of the business's revenue is generated from AI-related activities, or both, provided, however, the use of AI applications in the furtherance of a business's own operations shall not be considered in determining whether a business or division is primarily engaged in artificial intelligence or large-scale artificial intelligence data centers. AI-related activities include, but are not limited to: developing new AI algorithms and techniques, such as machine learning, natural language processing, and computer vision; creating AI-powered software and hardware products for various applications; medical AI modelling or programing; development of AI chatbots for customer service; AI development for vehicles; and collecting, storing, and managing the vast amount of data needed to train and use AI models; (4) the business will enter into a collaborative relationship, evidenced by the provision of price concessions, artificial intelligence support services, or other measures determined appropriate by the authority, with New Jersey-based public or private research universities or technology startup companies, or both; (5) the qualified business facility shall be in compliance with minimum environmental and sustainability standards; (6) for construction contracts valued in excess of $2,000, the project shall comply with the authority's affirmative action requirements, adopted pursuant to section 4 of P.L.1979, c.303 (C.34:1B-5.4); and (7) each worker employed to perform construction work in connection with a capital improvement or building services work at the qualified business facility shall be paid not less than the prevailing wage rate for the worker's craft or trade, as determined by the Commissioner of Labor and Workforce Development pursuant to P.L.1963, c.150 (C.34:11-56.25 et seq.) and P.L.2005, c.379 (C.34:11-56.58 et seq.). b. The minimum capital investment at the qualified business facility required to be eligible under the program shall be $100,000,000. c. The minimum number of new full-time jobs in the State required to be eligible under the program shall be 100 new full-time jobs. d. The chief executive officer of the business, or an equivalent officer, shall certify that all factual representations made by the business to the authority pursuant to subsection a. of this section are true under the penalty of perjury. e. A business shall not be awarded a tax credit pursuant to the program if the business receives a tax credit pursuant to the Emerge Program Act, sections 68 through 81 of P.L.2020, c.156 (C.34:1B-336 et al.), or section 6 of P.L.2010, c.57 (C.34:1B-209.4), relating to the same capital investment and employees that qualify the business for a tax credit under the program. f. A business eligible pursuant to this section may submit an application to the authority in accordance with the provisions of section 5 of P.L.2024, c.49 (C.34:1B-398) on or after the effective date of P.L.2024, c.49 (C.34:1B-394 et al.) but prior to March 1, 2029. L.2024, c.49, s.4.