N.J. Stat. § 34:1B-263

8. a. If, in any tax period, the number of new full-time employees employed by the business at the headquarters drops below 80 percent of the number of new full-time jobs specified in the incentive phase agreements for all phases completed, then the business shall forfeit its credit amount for that tax period and each subsequent tax period, until the first tax period for which documentation demonstrating the restoration of the number of full-time employees employed by the business at the headquarters to 80 percent of the number of jobs specified in the incentive phase agreements for all phases completed. b. If the headquarters is sold by the owner in whole or in part during the eligibility period, the new owner shall not acquire the capital investment of the seller and the seller shall forfeit all credits for the tax period in which the sale occurs and all subsequent tax periods, provided however, that any credits of the business shall remain unaffected. c. If the headquarters fails to achieve an employment level of 30,000 new full-time jobs or a capital investment of at least $3,000,000,000 by the 20th year of the incentive agreement, then the business shall not receive any tax credits for an incomplete phase, and for a completed phase, if the total employment achieved is between: (1) 20,000 and 29,999 new full-time jobs, the amount of tax credits shall be reduced to $7,000 per employee per year; (2) 10,000 and 19,999 new full-time jobs, the amount of tax credits shall be reduced to $5,000 per employee per year; and (3) 5,000 and 9,999 new full-time jobs, the amount of tax credits shall be reduced to $3,000 per employee per year. The business shall repay any amount of tax credits allowed prior to the 20th year of the incentive agreement that is in excess of the amount calculated based on the reduced tax credit first by forfeiting any tax credit amounts carried over, pursuant to subsection b. of section 7 of P.L.2017, c.282 (C.34:1B-262), and then by payment of current funds. L.2017, c.282, s.8.