Press Advisory: State Tax Credit Auction Opens Today

Auction proceeds will fund affordable and workforce housing

Auction Open: Monday, October 27th, 2025 at 9:00 a.m.

Auction Close: Wednesday, November 26th, 2025 at 5:00 p.m.

Where: Online

State Tax Credits for Auction: $100 million

Minimum Bid: All bids must be at least $250,000 in tax credit authorization and above or equal to $0.80 per tax credit

Eligibility: Businesses with Corporate Business Tax or Insurance Premium Tax

About the Auction: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) will be auctioning up to $100 million in New Jersey State tax credits in the first auction authorized by PL2025, c.111. 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 in the tax privilege period as of the date of NJHMFA's approval and any unused credit can be carried forward for use in the next seven tax periods. New Jersey businesses are encouraged to participate in this new opportunity.

To participate, please go to https://www.nj.gov/dca/hmfa/about/auction/. Should you have any questions, please contact [email protected].

To submit a bid, please access the auction portal below:

https://njhmfa.bonfirehub.com/opportunities/207508

About Us: The New Jersey Housing and Mortgage Finance Agency (NJHMFA) advances the quality of life for residents of and communities throughout New Jersey by investing in, financing, and facilitating access to affordable rental housing and homeownership opportunities for low and moderate-income families, older adults, and individuals with specialized housing needs. To learn more about NJHMFA, visit: https://NJHousing.gov/