This bill (S 2198) expands New Jersey's Earned Income Tax Credit (EITC) program to allow taxpayers with Individual Taxpayer Identification Numbers (ITINs) to qualify, provided they otherwise meet federal EITC eligibility requirements. It removes the current requirement for a Social Security number by amending the state law to state that taxpayers may claim the credit regardless of whether they have an SSN or ITIN. This change directly affects low-income New Jersey residents who use ITINs - commonly undocumented workers or those without SSNs - to access state tax relief they previously could not receive. The policy change aligns New Jersey's program with federal eligibility rules while maintaining the credit's structure and funding.
S 1958 extends short-term financial aid under New Jersey's Transitional Aid to Localities program to municipalities that lose a major commercial business property generating significant property tax revenue. It defines a "major local business ratable" as a single business property (commercial/industrial) that either had the highest assessed value in the municipality, paid over 10% of the total municipal tax levy annually, or was otherwise critical to the municipality's finances. The bill allows the Director of Local Government Services to allocate aid without imposing additional oversight requirements on affected municipalities, and directs that aid can be paid to school districts or counties as if it were municipal tax revenue. This change specifically helps towns facing sudden fiscal strain from businesses relocating or changing use (like tax-exempt facilities), protecting residents from sharp property tax increases or service cuts.
S 2950 creates tax credits for businesses that convert abandoned commercial buildings (defined as 100,000+ square feet) into residential housing. Developers qualify for a credit equal to 25% of eligible construction costs (up to $1 million per project), covering expenses like demolition, site cleanup, and building repurposing. The credit applies to both New Jersey’s Corporation Business Tax and Gross Income Tax. To claim it, businesses must complete the project before applying and submit documentation to the Division of Taxation. This policy directly affects developers redeveloping underutilized commercial sites into housing.
This bill (S 854) allows parents or guardians of public school students to receive a voucher from their school district if they withdraw their child due to objections about curriculum materials or activities they consider harmful. The voucher covers 75% of the district's annual per-pupil spending (prorated for remaining school days) to help pay for nonpublic school tuition and fees. It specifically includes objections related to materials addressing sex, sexuality, sexual orientation, gender identity, religion, or ethics. The bill requires school districts to provide this funding if parents withdraw their child for these reasons, and it takes effect immediately upon enactment.
This constitutional amendment (SCR 24) would adjust New Jersey veterans' property tax deductions annually based on inflation, starting in 2026. Currently fixed at $250 for tax years 2003-2025, the deduction would increase each year using the Consumer Price Index (CPI), rounding up to the next dollar. It applies to honorably discharged veterans, their surviving spouses, and veterans living in continuing care retirement communities. The change requires voter approval through a constitutional amendment vote.
This bill (S 1450) updates New Jersey's NJBEST education savings program to make it more accessible for families. It increases the state income tax deduction for contributions to $15,000 (from $10,000) for taxpayers earning $300,000 or less annually, and creates two new grant programs: a $1,000 one-time match for initial deposits by low-income families ($150,000 income or less), plus a $500 grant for transferring funds from out-of-state 529 plans. The bill also establishes a new NJBEST Advisory Council to guide the program and ensures account balances up to $50,000 won't count against students for state financial aid. These changes directly affect New Jersey families saving for higher education expenses through the NJBEST program.
This New Jersey Senate resolution (SR 36) urges Congress to exempt unemployment insurance benefits and two types of disability leave benefits (family temporary disability leave and temporary disability leave) from federal taxation. It directly affects individuals receiving these benefits during unemployment, illness, injury, or caregiving for a family member, who currently face federal tax burdens on income they rely on during financial hardship. The resolution argues taxing these benefits worsens financial strain on vulnerable people already managing limited incomes. As a non-binding resolution, it does not change tax law but calls on federal lawmakers to act.
This bill authorizes New Jersey to create special 4-H license plates for motor vehicles. It allows residents to apply for these plates by paying a $50 one-time fee and a $10 annual fee, with all collected fees deposited into a dedicated "New Jersey 4-H License Plate Fund." The fund, managed by the state Treasury, provides annual grants to support New Jersey 4-H's mission and programs through the money collected from plate fees. The bill directly affects New Jersey residents who choose to purchase these plates, with the revenue specifically earmarked to fund 4-H activities.
This bill (S 974) would impose a $250 daily fine on each New Jersey legislator for failing to pass the state's annual budget law during a declared state of emergency. The fine applies to each day or partial day the Legislature misses the constitutional deadline for enacting the budget. All collected fines would go directly to the State General Fund via the State Treasurer. The bill targets legislators' accountability for budget delays during emergencies, not the budget's content or impact on residents.
This New Jersey bill (S 1763) creates a refundable tax credit for homeowners who make extra principal payments on qualifying mortgages. Taxpayers can claim 50% of these extra payments, up to $1,000 annually, reducing their state income tax bill (or creating a refund if the credit exceeds tax owed). To qualify, the mortgage must be for a primary residence, be a traditional 15-30 year loan, and the homeowner must meet income limits (e.g., single filers with $125,000-$135,000 taxable income see reduced credits). The credit applies only to payments beyond the required monthly amount and cannot be claimed for more than 10 years total.
