Provides retirement income exclusion under gross income tax for certain persons with income over $3,000 from part-time employment.

This New Jersey bill (S 553) modifies retirement income tax exclusions for seniors. It allows individuals aged 62+ with retirement income to exclude that income from state taxes if they earned **no more than $3,000 from part-time work** (defined as under 30 hours/week). The exclusion amount depends on filing status (e.g., up to $75,000 for single filers), but is reduced if part-time earnings exceed $3,000. It specifically excludes those with full-time employment (30+ hours/week) and applies to taxable years beginning January 1, 2021, or later.