New Jersey last week asked the state’s highest court to review a lower court’s ruling that Holtec International should keep the $260 million in tax credits the company got in 2014.
New Jersey Attorney General Matt Platkin filed a petition with the New Jersey Supreme Court on Tuesday, local media reported. The supreme court had not docketed the appeal online as of Tuesday morning.
The state lost its case in the New Jersey Superior Court in 2021 and in November lost an appeal to that court’s appellate division. New Jersey said Holtec lied and omitted information from its application for the tax breaks, which helped the company build its flagship manufacturing campus in Camden, N.J.
The tax credit is to be paid out over 10 years beginning in 2017. Holtec in 2020 sued New Jersey in state court for withholding the tax credits and eventually won. The company said the state had never asked for the information New Jersey claims Holtec withheld on its application. Holtec said it would have answered honestly if the state had.
Holtec provides nuclear power plant decommissioning and site services. The company also makes storage containers for spent fuel. Other business lines are working on small modular reactor designs and energy technology unrelated to nuclear power.
New Jersey’s appeal to the state Supreme Court follows news last week that Holtec had settled with New Jersey to avoid criminal prosecution for what the state said was potentially criminal behavior related to Holtec’s application for a separate investor tax credit.
