Tax credits available for purchase in pilot NJ Corporate Tax Credit Auction. In 2022, a pilot amount of $30 million in tax credits will be going under the hammer through the New Jersey Corporate Tax Credit Auction. The proceeds will go toward the New Jersey Innovation Evergreen Fund (NJIEF), a groundbreaking tool to increase access to strategic resources and venture capital. Under the scheme, the state will become an equity investor in startups, ultimately making available up to $600 million to companies alongside professional venture capital groups. This strategic investment will not only support New Jersey’s entrepreneurs, but will also ensure that more companies start, grow and stay in state. The fund and the auctions are overseen by the New Jersey Economic Development Authority.