Provides gross income tax exclusion for minimum required distributions from qualified retirement plans.

This bill (S 3595) excludes minimum required distributions (RMDs) from qualified retirement plans from New Jersey's gross income tax. It directly affects New Jersey residents aged 72 or older who must take annual RMDs from retirement accounts under federal law (as defined in 26 U.S.C. §4974). The bill removes state income tax on these mandatory withdrawals, which are currently taxed by both federal and state governments. The change applies to taxable years beginning after the bill's enactment.