S 371 New Jersey Senate · 2024-2025 Regular Session

Excludes from gross income contributions that certain federal employees classified as criminal investigators make to federal Thrift Savings Fund.

This bill amends New Jersey's tax code to exclude contributions made by certain federal employees (specifically those classified as criminal investigators) to the federal Thrift Savings Fund from their New Jersey gross income. It directly affects New Jersey-resident federal criminal investigators who contribute to the TSP. The key provision removes these contributions from taxable income under New Jersey's tax system, aligning state treatment with federal tax rules for these specific contributions. The bill does not change other tax rules or apply to non-investigator federal employees.
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Joe Pennacchio
Joe Pennacchio
RRepublican
NJ
26