Provides gross income tax credits for portion of homeowners' association payments used in fund infrastructure improvements within common interest communities.

This bill creates a refundable tax credit for New Jersey homeowners in common interest communities (like condominiums or cooperatives) who pay homeowners' association (HOA) fees for infrastructure improvements. The credit equals 18% of the total HOA assessments paid annually for infrastructure projects, as verified by a certification from the HOA. Homeowners must submit this certification when filing their state income tax return to claim the credit, which can reduce their tax bill to zero and refund any remaining amount. The credit applies regardless of whether the home is subject to property taxes or alternative payment agreements.