State Tax Credit Auction

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is conducting a competitive auction for the sale of state tax credits, with a total available amount of up to 500 million dollars over six years. For the 2026 cycle, the agency will sell up to 100 million dollars in credits, with a minimum bid requirement of 250,000 dollars per authorization. Bids must be for at least 80 percent of the tax credit face value, or 0.80 dollars per credit. Awards are determined through a ranking process based on the highest price per credit, followed by the highest total bid amount, and finally by the earliest submission date and time. Eligible bidders must be New Jersey Corporate Business Tax or Insurance Premiums Tax filers in good standing with the New Jersey Department of the Treasury. Required documentation includes a completed bid form, a valid tax clearance certificate for the bidder and any benefiting related entities, and a disclosure certifying non-involvement in prohibited activities in Russia, Belarus, or Iran. Financial requirements for submission include a non-refundable 500 dollar bid fee and a refundable deposit equal to 10 percent of the tax credit purchase value, both payable via wire transfer. All submissions must be finalized through the Euna procurement portal by November 30, 2026, at 5:00 PM EST.