Improves management and administration of New Jersey Better Education Savings Trust program; establishes grants and additional tax incentives for New Jersey Better Education Savings and Trust account contributions; creates New Jersey Better Education Savings and Trust Advisory Council.

This bill improves New Jersey's Better Education Savings Trust (NJBEST) program to help families save for college. It raises the income limit for tax deductions on contributions from $200,000 to $300,000 with a higher deduction cap of $15,000. The bill also expands grants: increasing the initial deposit match from $750 to $1,000 for account holders earning $150,000 or less, and adding a $500 grant for those transferring funds from out-of-state 529 accounts. Additionally, it creates a NJBEST Advisory Council to review the program's effectiveness in making college more affordable.