Budget & Taxes

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

A 1482: Excludes contributions made to certain retirement savings plans under gross income tax.

This bill changes New Jersey's tax code to exclude certain retirement savings contributions from taxable gross income. It directly affects New Jersey residents who contribute to qualifying retirement plans, such as 401(k)s or IRAs, by reducing their taxable income for state tax purposes. The key provision amends the definition of "gross income" to specify that contributions to these plans are not counted toward taxable earnings. As a result, taxpayers would pay less state income tax on the amounts they save for retirement through these qualified plans. The bill is currently in the introduction stage (2026-01-13) and has not yet been voted on.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes retirement contributions from taxable income, lowering state tax burden for residents per bill's tax code amendment95% confidence

Sub-Topics Income Tax

Track

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

A 551: Reduces taxes on petroleum products gross receipts to 2016 levels; eliminates review council and State Treasurer's authority to change tax rate.

This bill (A 551) reduces taxes on petroleum products (like gasoline and diesel) to the 2016 tax rates and eliminates mechanisms that previously allowed adjustments. It directly affects companies refining or distributing petroleum products in New Jersey by removing the requirement for quarterly tax rate changes based on fuel prices and repealing the State Treasurer's authority to adjust rates. The bill also eliminates a review council and a revenue cap that governed highway fuel taxes from 2018-2026. These changes simplify the tax structure by fixing rates at the 2016 level without future adjustments.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces petroleum tax rates to 2016 levels and eliminates rate adjustment mechanisms, directly lowering state tax revenue and weakening fiscal management.95% confidence ✗ EnergyOpposes EnergyBill reduces taxes on petroleum products (fossil fuels), directly favoring fossil fuel industry over renewable energy development.95% confidence

Sub-Topics Oil & Gas

Track

in committee · New Jersey · Senate Feb 24, 2026

S 3687: Allows tax credits for employing members of NJ National Guard and members of reserve component of US Armed Forces.

This bill creates tax credits for New Jersey businesses that employ members of the New Jersey National Guard or the reserve component of the U.S. Armed Forces. Employers receive a $1,500 credit per qualified service member who has not completed a deployment or activation, or $2,500 for those who have completed or returned from deployment. The credit applies to both the corporation business tax and the gross income tax, with specific rules for partnerships and S corporations. It directly benefits employers hiring military reservists, aiming to incentivize their employment through targeted tax relief.

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credits for employers, reducing state tax revenue through targeted relief for military-affiliated employment, aligning with tax relief indicators.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill provides tax credits to employers hiring military reservists, directly incentivizing employment opportunities for this group within Labor & Employment framework.85% confidence ✓ VeteransSupports VeteransBill provides tax credits to employers hiring NJ National Guard/reserve members, directly supporting veteran employment through financial incentives.90% confidence

Sub-Topics Business Taxes Income Tax National Guard & Reserve Veteran Employment

Track

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

ACR 32: Proposes constitutional amendment to grant certain senior citizens property tax credit equal to 50 percent of property tax bill on primary residence.

ACR 32 proposes a constitutional amendment requiring New Jersey to create a property tax credit for seniors. It would provide a 50% credit on primary residence property taxes (capped at $10,000 annually) for residents aged 65 or older, with no income restrictions. The credit would be paid directly by the state to the municipality where the home is located, and surviving spouses who meet age and residency requirements would retain the credit. This amendment, if approved by voters, would enshrine this tax relief permanently in the state constitution.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides property tax credit for seniors, reducing tax burden and requiring state funding, directly advancing tax relief policy.95% confidence

Sub-Topics Property Tax Tax Credits Tags Seniors

Track

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

A 3527: Decreases the premium receipts tax for surplus lines insurance coverage.

New Jersey bill A3527 reduces the tax rate on surplus lines insurance premiums from 5% to 3% for both policies purchased directly by insureds and those handled through surplus lines agents. This directly affects insurance agents, brokers, and policyholders who use non-admitted insurers for commercial coverage, such as property or casualty insurance. The bill amends existing tax provisions to lower the rate while maintaining that 3% of fire insurance tax revenue goes to New Jersey firemen's relief associations and the remaining 2% to the state. It excludes government coverage, life insurance, and disability insurance from this tax change and takes effect January 1, 2013.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces tax rate from 5% to 3% on surplus lines insurance premiums, providing direct tax relief for insurers and policyholders.95% confidence

Sub-Topics Revenue

Track

in committee · New Jersey · General Assembly Mar 9, 2026

A 3613: "Saving Our Diners and Preserving Our Past (SODA POP) Act"; provides sales and use tax exemption and corporation business and gross income tax credits for historic diners and historic restaurants included in online registry.*

This bill creates tax incentives for historic diners and restaurants in New Jersey that meet specific criteria. To qualify, establishments must have operated continuously for at least 25 years (including pandemic closures), qualify as small businesses, comply with health/safety rules, and be family-owned. Approved businesses receive a sales tax exemption on prepared food and beverages for on-site consumption and corporation business/gross income tax credits. The program requires annual registration through a state registry established by the Division of Travel and Tourism, with applications reviewed and approved by the Director.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides sales tax exemption and tax credits for qualifying historic diners, reducing their tax burden and supporting small businesses through targeted fiscal incentives.95% confidence

Sub-Topics Income Tax Sales Tax Tax Incentives

Track

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

A 1779: Requires Homelessness Prevention Program agencies to remain open during public health emergency and provides for funding of each agency.

This bill requires Homelessness Prevention Program (HPP) agencies - nonprofit organizations managing homelessness services in New Jersey - to remain open during public health emergencies. It mandates the Department of Community Affairs to fund one agency per "populous county" (county with 350,000+ residents) to manage homelessness prevention services in those areas. If federal pandemic funding is insufficient, the agency head may request state funds from the General Fund to cover gaps. The law directly affects agencies in populous counties and the residents they serve, ensuring continuous access to homelessness prevention during emergencies.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates state General Fund funding to cover homelessness program gaps when federal funds are insufficient, directly increasing public service budget allocation.95% confidence ✓ HousingSupports HousingMandates state funding for homelessness prevention agencies during emergencies, directly advancing housing stability and affordability programs as per topic description.95% confidence

Sub-Topics State Budget Homelessness

Track

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

A 1942: Provides credits against corporation business and gross income taxes for certain employers that invest in human capital.

This bill (A 1942) provides tax credits to small New Jersey businesses that invest in employee job training. Qualified employers (businesses with under $2.5 million annual revenue, operating in NJ for fewer than 10 years, and employing NJ workers) can claim a 10% credit on training costs, up to $2,000 per employee annually. The credit applies to both corporation business tax and gross income tax, requires training to lead to industry-recognized credentials, and can be claimed for a maximum of five years. It does not reduce tax liability below the statutory minimum or zero.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits to small NJ businesses for employee training, reducing their tax liability and incentivizing workforce development.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax credits for employer job training investments, directly advancing workforce development and employment standards through financial incentives for skill-building.95% confidence

Sub-Topics Business Taxes Income Tax Workforce Development

Track

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

A 3776: Establishes fund to reimburse municipalities for police and sanitation costs related to crowding at MVC sites; appropriates $500,000.

This bill (A 3776) creates a $500,000 fund to reimburse New Jersey municipalities for specific police and sanitation costs incurred managing crowds at Motor Vehicles Commission (MVC) locations during the COVID-19 emergency period. It directly affects municipalities that spent on crowd control, traffic management, litter/garbage collection, and portable restrooms at MVC sites. Municipalities must apply through the Division of Local Government Services to receive reimbursement, with funds limited to the $500,000 appropriation. The program is retroactive to March 9, 2020, and ends when the state's emergency declarations conclude.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $500,000 to reimburse municipalities for essential police/sanitation services at MVC sites, directly funding government expenditure during emergency.90% confidence

Sub-Topics Appropriations

Track

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

A 3533: Excludes certain services rendered in connection with installation of carpeting and other flooring from sales and use tax.

This bill amends New Jersey's tax code to exclude the installation of carpeting and other flooring from sales and use tax. It directly affects flooring installers and homeowners who pay for installation services, as they will no longer be charged the 7% tax on these labor costs. The key mechanism is an amendment to Section 3(b)(2) of the tax law, explicitly removing "services rendered in installing property which, when installed, will constitute an addition or capital improvement to real property" from taxable services - specifically adding carpeting and flooring to the existing list of exempt services. The bill does not affect taxes on the flooring materials themselves, only the installation labor. It was introduced in 2026 and referred to the Assembly Commerce Committee.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes flooring installation from sales tax, providing direct tax relief to homeowners and installers by removing 7% tax on labor costs.95% confidence

Sub-Topics Sales Tax

Track