Budget & Taxes

in committee · New Jersey · Senate Jan 13, 2026

S 1406: Excludes contributions made to certain retirement savings plans under gross income tax.

This bill (S 1406) would amend New Jersey's tax code to exclude contributions to certain retirement savings plans from taxable gross income. It directly affects New Jersey residents who contribute to qualifying retirement accounts, such as 401(k)s or IRAs, by reducing their taxable income for state tax purposes. The key provision changes the definition of "New Jersey gross income" under N.J.S.54A:5-1 to exclude these specific retirement contributions. This would lower state tax liability for eligible taxpayers without altering federal tax treatment. The bill is currently in the introduction stage (2026) and has not yet been debated or voted on.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes retirement contributions from taxable income, reducing state tax liability for residents - direct tax relief provision.95% confidence

Sub-Topics Income Tax

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in committee · New Jersey · Senate Jan 13, 2026

S 55: Prevents State school aid reduction in school districts that experienced decrease in equalized valuation and are located in certain counties.

This bill prevents reductions in state school aid for specific school districts in Atlantic, Cape May, Monmouth, and Ocean counties (all fifth or sixth class counties) if their property tax base (equalized valuation) has decreased compared to the 2012-2013 school year. It guarantees that a district’s total state aid for the current year cannot be lower than what it received in the 2017-2018 school year under these conditions. The bill excludes preschool aid, special education costs aid, school choice aid, and debt service aid from the "total state aid" calculation. It directly supports school districts still recovering from Superstorm Sandy’s property value impacts, ensuring their funding remains stable despite lower local tax revenues.

Topics ✓ Budget & TaxesSupports Budget & TaxesPrevents state school aid reductions for districts with declining property tax bases, protecting public education funding and ensuring budget stability for affected school districts.95% confidence ✓ EducationSupports EducationPrevents state aid reductions for K-12 school districts facing property tax declines, guaranteeing stable funding levels in specified counties.95% confidence

Sub-Topics Debt & Bonds Property Tax Early Childhood School Choice Special Education

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in committee · New Jersey · Senate Jan 13, 2026

S 2210: Establishes Emerging Technology Urban Grant Program in EDA.

This bill creates the Emerging Technology Urban Grant Program, administered by New Jersey's Economic Development Authority (EDA). It provides financial assistance to qualifying emerging technology businesses for cloud computing services if they locate or maintain headquarters in designated urban technology zones (including cities like Newark, Trenton, and others meeting specific population criteria). To qualify, businesses must commit to keeping headquarters in these zones for five years, have 100 or fewer full-time employees, and demonstrate recent growth (20% employee increase or revenue growth). The grant covers the actual cost of eligible cloud services, aiming to spur job creation and economic revitalization in targeted urban areas.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates state-funded grant program for technology businesses, constituting new government spending (appropriation) under budget & taxes topic.90% confidence ✓ TechnologySupports TechnologyBill creates grant program funding emerging tech businesses for cloud computing services in urban zones, directly advancing technology sector growth through financial support.95% confidence

Sub-Topics Emerging Technology

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in committee · New Jersey · Senate Mar 5, 2026

S 1821: Allows gross income tax credits to certain renters whose rent exceeds 35 percent of gross income.

This bill creates a refundable tax credit for New Jersey renters whose rent exceeds 35% of their gross income. It directly affects low-to-moderate income residents (earning under $60,000 annually) living in the state, with credit amounts based on income level and location: up to 100% of excess rent for those earning under $25,000 (or under $50,000 in high-cost areas), 75% for middle-income renters, and 50% for higher-income renters in non-high-cost areas. The credit, capped at $1,000 per year, is applied against state income tax and can be claimed retroactively for the previous tax year. Renters receiving federal or state housing subsidies instead receive a credit equal to 1/12 of their unsubsidized rent.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides refundable tax credits to low-income renters, reducing their tax burden and offering fiscal relief for vulnerable residents under budget & taxes policy.95% confidence ✓ HousingSupports HousingProvides refundable tax credits to low-income renters paying >35% of income on rent, directly increasing housing affordability for vulnerable residents.95% confidence

Sub-Topics Income Tax Tax Credits Affordable Housing Renters Tenant Rights

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in committee · New Jersey · Senate Jan 13, 2026

S 2650: Requires Commissioner of Education to take certain action concerning preliminary State school aid notices and school district budgets and creates New Jersey Education Funding Portal; modifies certain provisions in school funding law.

S 2650 requires New Jersey's Commissioner of Education to provide school districts with preliminary funding notices by December 1st each year for the following school year, detailing minimum and maximum state aid amounts, adequacy budgets, and projected local funding rates. It mandates the creation of a public "New Jersey Education Funding Portal" to make these funding details accessible online. The bill directly affects all public school districts by changing when they receive critical budget planning information - shifting from current timelines to an earlier December notice period starting with the 2026-2027 school year. Key mechanisms include standardized annual notifications about aid calculations and the new portal, streamlining how districts access and use funding data for budget planning. This is a procedural change to school funding transparency, not a modification of funding formulas or amounts.

Topics ✓ Budget & TaxesSupports Budget & TaxesPromotes fiscal transparency in school funding allocation via timely notices and public portal, enhancing budget management without altering tax rates or spending levels.85% confidence ✓ EducationSupports EducationRequires timely funding notices and public portal for school budgets, enhancing transparency in state aid distribution to support district planning.95% confidence

Sub-Topics School Funding

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died · New Jersey · Senate Jan 13, 2026

S 1284: Makes supplemental appropriation of $3 million to NJ Division of State Police Internet Crimes Against Children Unit.

This bill provides a $3 million supplemental appropriation to New Jersey's State Police Internet Crimes Against Children (ICAC) Unit for the fiscal year ending June 30, 2026. The funds are designated for specific operational needs including advanced training, equipment, vehicle purchases, software licenses, and staff mental health support to combat online child exploitation. The bill addresses rising incidents of internet-based child abuse, noting increased risks during events like the 2026 FIFA World Cup and due to limited federal funding. (Note: The bill was withdrawn on January 13, 2026, as it was already covered by another enacted bill, P.L.2025, c.331.)

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides $3M supplemental appropriation for ICAC Unit operations, directly funding essential public safety program through budget allocation.95% confidence ✓ Criminal JusticeSupports Criminal JusticeFunds ICAC Unit to combat online child exploitation, strengthening law enforcement capabilities in criminal justice.95% confidence ✓ TechnologySupports TechnologyFunds ICAC unit for cybersecurity operations against online child exploitation, directly enhancing digital safety through technology resources and training.95% confidence

Sub-Topics Appropriations Policing

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in committee · New Jersey · Senate Jan 13, 2026

S 798: Establishes one-year pilot program for certain persons with disabilities; appropriates up to $85,000.

This bill establishes a one-year pilot program in New Jersey's Department of Human Services for people with intellectual or developmental disabilities aged 21-30 who meet specific criteria (e.g., no aggressive behaviors, no dual diagnoses of mental illness and disability). It provides participants with at least six hours weekly of community-based activities, including job skills training, social workshops, mentorship, recreation, and volunteering. The program requires collecting participant data, reporting progress to parents/guardians (with consent), and submitting a final evaluation report to the legislature. The initiative is funded with up to $85,000 from the state budget, subject to approval by the Division of Budget and Accounting.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates $85,000 for disability pilot program, funding essential community services per bill's explicit language.90% confidence

Sub-Topics State Budget Tags People with Disabilities

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in committee · New Jersey · Senate Jan 13, 2026

S 199: 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 (S 199) 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 allows districts to enter into 20-year lease purchase agreements for school building improvements or additions, but mandates commissioner approval if the agreement affects tax levy limits. The key provision replaces a previous 5-year limit with a 20-year cap for lease purchase agreements and requires districts to demonstrate that payments won’t exceed tax levy growth limits without needing additional voter approval. This directly affects all New Jersey public school districts managing long-term facility leases.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires Commissioner approval for long-term school leases affecting tax levy limits, promoting fiscal responsibility in school district budgeting by preventing circumvention of tax caps.85% confidence ✓ EducationSupports EducationAuthorizes 20-year lease agreements for school building improvements, facilitating infrastructure upgrades without restricting funding or access.90% confidence

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in committee · New Jersey · Senate Jan 13, 2026

S 3132: Requires Division of Taxation conduct audits of out-of-State contractors that have entered into State and private contracts.

S 3132 requires New Jersey's Division of Taxation to audit out-of-state contractors who have won state or private contracts. The audits verify that administrative costs are properly allocated and reasonable, review financial controls, and examine the contractors' annual financial reports. The Division must share audit results with the agency that awarded the contract and submit an annual report to the Governor and Legislature. It also establishes a confidential hotline for reporting issues related to these contractors.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates audits to verify cost allocation and financial controls for contractors, promoting fiscal responsibility in government spending oversight.90% confidence

Sub-Topics Audits & Accountability

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in committee · New Jersey · Senate Jan 13, 2026

S 1519: Allows gross income deduction for all wage income received by high school and college graduates during two consecutive taxable years following graduation from in-State school.

This bill allows New Jersey residents who graduated from an in-state high school or college to deduct all their wage income from state income tax for two consecutive years after graduation. It directly affects recent graduates who live in New Jersey for the entire tax year of the deduction. To qualify, graduates must have earned a diploma from a New Jersey high school or a bachelor’s degree from a New Jersey public or private institution meeting specific accreditation standards. The deduction applies to all salaries, wages, and other earnings received during those two years, with no income limit.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax deduction for recent NJ graduates, reducing state tax burden for middle-income earners per bill's wage income deduction provision.90% confidence

Sub-Topics Income Tax

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