S 1204 New Jersey Senate · 2026-2027 Regular Session

"New Jersey Battlefield to Boardroom Act"; provides corporation business tax credits and gross income tax credits for qualified wages of certain veterans.*

New Jersey's S 1204 creates tax credits for businesses hiring veterans. Companies can claim up to $1,200 per qualified veteran annually (10% of their wages) if they hire at least 25% veterans among new employees, maintain 50% retention of previously hired veterans, and provide workplace veteran support services. The credit applies to wages paid between 2020-2024 for both corporation business tax and gross income tax. It directly affects New Jersey businesses and veterans who are honorably discharged post-1965 with proof of service (e.g., DD-214 form). The bill does not cover wages already used for other state tax credits or grants.

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 13, 2026 Last action Feb 19, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Introduced → Reprint · 6 edits

MODERATE

The Senate Military and Veterans' Affairs Committee reported S1204 with significant amendments that shift all time windows from fixed past dates (2020-2024) to forward-looking periods tied to the date of enactment, extend the credit availability window from 4 years to 5 years, and add a new $10 million annual cap on total credits approved under both the corporation business tax and gross income tax provisions. These changes make the bill prospective rather than retroactive and impose a budgetary limit that was absent in the introduced version.

Scope change

The bill's scope shifted from a retroactive framework (covering 2020-2024 with veterans hired since 2010) to a prospective framework (covering 5 years from enactment with veterans hired only after enactment). A $10 million annual funding cap was added, limiting the total credits that can be approved per fiscal year.

TIMELINE

The time window for claiming the corporation business tax credit changed from privilege periods commencing on or after January 1, 2020 but before January 1, 2024 (a fixed 4-year window) to privilege periods beginning after December 31 following enactment and ending before January 1 of the fifth year next following enactment (a forward-looking 5-year window).

The time window for claiming the gross income tax credit changed from taxable years commencing on or after January 1, 2020 but before January 1, 2024 to taxable years commencing on or after January 1 following enactment and for the next four taxable years therafter (a forward-looking 5-year window).

ELIGIBILITY

The definition of 'qualified veteran' was changed in both sections: the minimum hire date shifted from a fixed date of January 1, 2010 to the date of enactment of this bill. This means only veterans hired after the bill becomes law will qualify, rather than those hired as far back as 2010.

The definition of 'qualified wages' was changed in both sections: wages must now be paid on or after January 1 following the date of enactment, replacing the fixed window of January 1, 2020 through January 1, 2024.

FISCAL

A new subsection (b)(4) was added to both Section 2 (corporation business tax credit) and Section 3 (gross income tax credit) capping the total value of tax credits approved by the director at $10,000,000 during any fiscal year. The cap applies to the combined credits under this bill and a companion pending bill.

SCOPE

Senator Cruz-Perez was added as a co-sponsor alongside Senator Beach, indicating broader legislative support for the bill after committee review.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 19, 2026

Committee

Referred to Senate Budget and Appropriations Committee

upper

Jan 13, 2026

Introduced

Introduced in the Senate, Referred to Senate Military and Veterans' Affairs Committee

upper

2 primary · 2 co-sponsors