Provides one-time deduction of $10,000 for certain taxpayers under GIT.

This bill provides a one-time $10,000 deduction from gross income for certain New Jersey taxpayers filing for the 2020 tax year. It directly affects married couples filing jointly, heads of household, and surviving spouses with taxable income under $250,000, as well as single filers, married filing separately, and estates/trusts with taxable income under $125,000. The deduction is applied in addition to existing personal exemptions and is available only for the 2020 tax year. The bill aims to offer tax relief to lower-to-moderate income households following the pandemic.