Budget & Taxes

in committee · New Jersey · General Assembly Jan 13, 2026

A 3148: Requires interpretive statements of State general obligation bond act public questions to include certain fiscal information.

This bill requires that ballot questions about new state debt (like bond issues) include specific financial details in plain language. The fiscal statement must show both: (1) the prior year's total cost for existing bond payments (with per capita calculation), and (2) the estimated cost for the new bonds proposed (with per capita calculation). These details will appear at the end of the existing ballot explanation, helping voters understand the financial impact. It directly affects voters deciding on bond measures and ensures transparency about state debt costs.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires fiscal transparency for bond measures, promoting voter understanding of bond costs and fiscal responsibility.80% confidence

Sub-Topics Debt & Bonds

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in committee · New Jersey · General Assembly Feb 24, 2026

A 4478: Provides gross income tax deduction for certain health club membership fees and personal training services.

This New Jersey bill (A4478) allows residents to deduct certain health club expenses from their gross income tax. It permits a maximum annual deduction of $5,000 for married couples filing jointly, heads of household, or surviving spouses, and $2,500 for other filers, covering membership fees, initiation costs, and personal training at qualifying fitness facilities. Expenses like spa services, food, childcare, or employer-paid costs are excluded, and the deduction does not apply if the employer covers the expense. The bill defines a "health club" as an establishment where at least 40% of space is dedicated to fitness services, aligning with existing state regulations. It takes effect immediately for taxable years starting after enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for health club expenses, offering relief to middle-income filers under NJ tax code by reducing taxable income.90% confidence

Sub-Topics Income Tax

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in committee · New Jersey · General Assembly Jan 13, 2026

A 2696: Provides for voluntary contributions by taxpayers on gross income tax returns to support programming to address family homelessness.

This bill creates the "New Jersey Family Homelessness Fund" allowing taxpayers to voluntarily add contributions to their state income tax refunds or enclose payments. It directly affects families facing homelessness in New Jersey by funding services through Family Promise affiliates. Key provisions require the state to annually allocate all collected funds to Family Promise's local affiliates for homelessness prevention, emergency shelter, and housing stabilization programs. Taxpayers can choose to contribute via their tax return, with no mandatory fees or tax increases.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates voluntary tax contributions to fund homelessness programs, directly allocating collected funds to essential services.90% confidence ✓ HousingSupports HousingBill creates a fund to directly finance homelessness prevention, emergency shelter, and housing stabilization programs through Family Promise affiliates, explicitly addressing housing stability for families.95% confidence

Sub-Topics Income Tax Homelessness

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in committee · New Jersey · General Assembly Jan 13, 2026

A 1245: Limits and clarifies use of cap banking by school districts.

This bill limits how New Jersey school districts can use "cap banking" to raise property taxes beyond normal limits. It clarifies that districts may carry forward unused tax authority (called "cap banking") but restricts annual increases to no more than 6% compared to the previous year's levy. Districts that use cap banking must rebuild their "cap bank" in the following two years, preventing repeated large tax hikes. The bill directly affects school districts seeking to exceed standard tax levy caps, ensuring property tax increases remain moderate and predictable for residents.

Topics ✓ Budget & TaxesSupports Budget & TaxesRestricts annual school district tax increases to 6% and mandates cap bank rebuilding, promoting fiscal responsibility in local budget management.92% confidence

Sub-Topics Property Tax

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in committee · New Jersey · General Assembly Jan 13, 2026

A 780: Provides credit under corporation business tax and gross income tax for construction of buildings in accordance with certain energy and environmental performance standards.

This bill creates tax credits for businesses constructing new buildings in New Jersey that meet specific environmental standards. It provides credits against corporation business tax and gross income tax for buildings certified at LEED Silver, Gold, or Platinum levels (based on energy efficiency, water use, and sustainable materials). Eligible buildings include large residential complexes (10,000+ sq ft) or commercial/industrial structures, with credit amounts tied to building size and certification level. To claim the credit, businesses must obtain certification from the Environmental Protection Commissioner and comply with annual reporting requirements, subject to a $10 million annual cap on total credits.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credits reducing corporate tax burden for green buildings, aligning with tax relief indicators for business incentives.95% confidence ✓ EnergySupports EnergyProvides tax credits for LEED-certified buildings meeting energy efficiency standards, directly promoting clean energy infrastructure and sustainable construction practices.95% confidence ✓ EnvironmentSupports EnvironmentProvides tax credits for LEED-certified buildings meeting energy/environmental standards, directly promoting sustainable construction and reducing environmental impact.95% confidence

Sub-Topics Business Taxes Income Tax Energy Efficiency

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in committee · New Jersey · General Assembly Feb 19, 2026

A 4437: Provides CBT and GIT credits for undertaking of qualified moderate-income housing projects in certain distressed municipalities.

This bill provides tax credits to businesses that build moderate-income housing in specific distressed New Jersey municipalities. The credits cover up to 25% of qualified construction costs, capped at $1 million per project, and are claimed through a state tax application process. If the tax authority doesn’t act within 90 days, applications are automatically approved. Businesses can also sell unused credits to other taxpayers who owe tax, at a minimum of 75% of the credit value.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits to businesses building moderate-income housing, reducing tax liability and incentivizing affordable housing development in distressed areas.90% confidence ✓ HousingSupports HousingProvides tax credits for moderate-income housing projects in distressed areas, directly funding affordable housing development through financial incentives.95% confidence

Sub-Topics Tax Incentives Affordable Housing Historic Preservation Housing Finance

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in committee · New Jersey · General Assembly Jan 13, 2026

A 3414: Concerns assessment of farmland for property tax purposes.

This bill amends New Jersey's Farmland Assessment Act to clarify that farmland owners who stop farming activities (e.g., due to retirement or disability) will not face "roll-back taxes" unless they actively convert the land to non-farming use (like building homes). Roll-back taxes are additional fees calculated as the difference between taxes paid under agricultural assessment and standard property taxes for the current year and the two prior years. The change specifically responds to a 1981 court ruling that deemed it unfair to tax owners who ceased farming without changing land use. It directly affects New Jersey farmland owners who may discontinue agricultural activity but do not develop the property.

Topics ✓ Budget & TaxesSupports Budget & TaxesPrevents roll-back taxes for retiring farmers, providing tax relief on agricultural property assessments under farmland tax rules.95% confidence ✗ HousingOpposes HousingBill imposes roll-back taxes on converting farmland to non-farming use (e.g., building homes), creating a financial barrier to housing development and restricting conversion for housing purposes.85% confidence

Sub-Topics Property Tax Land Use Property Taxes

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in committee · New Jersey · General Assembly Feb 19, 2026

A 4104: Imposes annual State tax on investment ownership of single family residences in this State by certain entities for purposes other than single family ownership, providing revenue for down payment assistance for family ownership.

This bill imposes an annual $20,000 tax on entities owning more than 20 single-family homes in New Jersey as of the last day of the tax year. It targets large investors like hedge funds, private equity firms, and real estate investment trusts (REITs), but excludes nonprofits, homeowners who build/rehab homes, and owners of federally subsidized housing. Revenue from this tax will fund down payment assistance programs for first-time homebuyers seeking family ownership. The tax applies to each home above the 20-home threshold, with reporting due quarterly and specific exemptions for certain sales or ownership reductions.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes tax on large investors to fund down payment assistance, closing loopholes for real estate entities and directing revenue to public housing programs.95% confidence ✓ HousingSupports HousingTax on large investors funds down payment assistance for first-time homebuyers, directly advancing affordable housing access through targeted revenue generation.95% confidence

Sub-Topics Affordable Housing Homeownership

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in committee · New Jersey · General Assembly Jan 13, 2026

A 3960: Requires Commissioner of Education and Local Finance Board approval for certain board of education leases exceeding 20 years; authorizes boards to enter into 20-year lease purchase agreements for improvements or additions to school buildings.

This bill requires New Jersey school districts to obtain approval from the Commissioner of Education and the Local Finance Board for any lease of school buildings exceeding 20 years. It authorizes districts to enter into 20-year lease purchase agreements for school building improvements or additions, provided the agreement fits within the district's tax levy growth limit and won't require additional voter approval for existing programs. The lease payments must be included in the annual budget, and the bill clarifies that such agreements will be treated as district property for tax purposes. It directly affects all public school districts in New Jersey seeking long-term building leases or improvements.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires lease payments to be included in annual budget and aligns with tax levy growth limits, promoting fiscal responsibility in school district spending.85% confidence ✓ EducationSupports EducationAuthorizes 20-year lease agreements for school building improvements within budget constraints, facilitating infrastructure upgrades to support educational facilities.90% confidence

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in committee · New Jersey · General Assembly Jan 13, 2026

A 1460: Allocates all revenue from hotel and motel occupancy fee for arts, historical heritage, and tourism purposes.

This bill changes how New Jersey allocates revenue from hotel and motel occupancy fees, directing 100% of the funds to arts, historical heritage, and tourism programs instead of the previous 40%. It specifies exact percentages: 56.7% for the State Council on the Arts (with a minimum $31.9 million annually after 2021), 9.6% for the Historical Commission ($5.5 million minimum), 31.9% for tourism advertising ($17.6 million minimum), and 1.8% for the Cultural Trust ($720,000 minimum). The bill directly affects hotels, motels, and online booking platforms (like Airbnb) that collect and remit this fee. It ensures these funds are legally required to be spent on designated cultural and tourism purposes, with minimum annual allocations.

Topics ✓ Budget & TaxesSupports Budget & TaxesRedirects 100% of hotel occupancy fees to fund arts, heritage, and tourism programs with specific minimum annual allocations, increasing dedicated funding for these public services.95% confidence

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