The New Jersey Housing and Mortgage Finance Agency (NJHMFA)’s first State Tax Credit Subsidy (STCS) Program Auction will close on November 26, 2025 at 5:00 PM.   

The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is auctioning up to $500 million in New Jersey State tax credits. 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 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.  

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. For questions, please contact [email protected]. 

Bidding Checklist:  

  • Obtain a valid Tax Clearance Certificate. A current certificate is required to bid and confirms your business is in good standing with the state. Certificates can be requested by contacting [email protected] or calling (609) 322-6835.   
  • Visit NJHMFA’s Auction Page. The auction is being run entirely through NJHMFA’s secure online portal. Click HERE to review the auction guidelines, a factsheet for easy reference, our FAQs, and some video resources to help you through the bid submission process.    
  • Prepare your Bid Submission. Log in to or register with the Auction Portal, which can be found on the Auction Page. Click HERE to view a step-by-step video demonstrating how to submit a complete bid through the auction portal.    
  • Sign up for updates. Join NJHMFA’s contact list to receive reminders, announcements, and guidance. Sign up for the mailing list here.