Budget & Taxes in New Jersey

in committee · New Jersey · Senate Jan 13, 2026

S 2737: Requires base salary of Palisades Interstate Park law enforcement officers to be equivalent to average base salary of officers in contiguous municipalities.

This bill requires the Palisades Interstate Park Commission to set base salaries for its law enforcement officers equal to the average base salary paid to officers in neighboring municipalities with similar training, experience, and service years. It defines "base salary" to include salary guides, increments, longevity pay, and service-based raises. Any salary adjustments for these officers after the bill takes effect must be funded from the state General Fund. The bill directly affects Palisades Park law enforcement officers, ensuring their compensation aligns with comparable municipal roles. The bill is pending legislative action as of its January 2026 introduction.

Topics ✓ Budget & Taxes

Sub-Topics State Budget

in committee · New Jersey · Senate Jan 13, 2026

S 1522: Authorizes free hunting, fishing, and trapping licenses and free admission to State parks and forests for individuals with certain types of military service.

New Jersey's S 1522 waives fees for hunting, fishing, and trapping licenses and state park/forest admissions for specific military-affiliated individuals. It directly affects active-duty service members stationed in New Jersey (regardless of residency), New Jersey National Guard members after initial training, members of organized military reserves based in New Jersey, disabled veterans (with VA service-connected disability), and retired New Jersey National Guard members. The bill amends existing law to eliminate these fees, requiring proof of eligibility (e.g., military ID or VA documentation) when obtaining licenses. This policy change applies to all fees charged for these activities under state law, with the state budget compensating for lost revenue through annual appropriations.

Topics ✗ Budget & Taxes ✓ Veterans

Sub-Topics State Budget National Guard & Reserve Veteran Education Veteran Healthcare

in committee · New Jersey · Senate Jan 13, 2026

S 1612: Provides corporation business and gross income tax credits for acquisition of qualified farming equipment.

This New Jersey bill (S 1612) provides a 10% tax credit against corporation business tax and gross income tax for farmers who purchase qualified farming equipment. It directly affects New Jersey farmers engaged in eligible operations - such as growing crops, raising livestock, or aquaculture - by allowing them to reduce their tax liability by up to 10% of equipment costs. To claim the credit, farmers must obtain certification from the New Jersey Department of Agriculture confirming their operation qualifies and equipment was acquired, with strict deadlines for processing. The credit cannot exceed 25% of a farmer’s tax liability for the year and may be carried forward if unused.

Topics ✓ Budget & Taxes

Sub-Topics Business Taxes Income Tax Tax Credits Tags Agriculture

in committee · New Jersey · Senate Jan 13, 2026

S 739: "New Jersey Loves New Jersey Farmers Act"; provides corporation business tax credits and gross income tax credits to commercial farm operators for price loss.

S 739, the "New Jersey Loves New Jersey Farmers Act," provides tax credits to New Jersey commercial farm operators who grow crops for human consumption (like fruits and vegetables) but not livestock feed. It allows these farms to claim credits against corporation business tax or gross income tax equal to certified "price loss" (revenue loss from falling crop prices), verified by the State Agriculture Secretary. The credits are limited to 50% of tax liability per year and can be carried forward for up to seven years if not fully used. This directly benefits farm businesses experiencing price declines, offering financial relief tied to verified market losses.

Topics ✓ Budget & Taxes

Sub-Topics Business Taxes Income Tax Tags Agriculture

in committee · New Jersey · Senate Jan 13, 2026

S 2500: Prohibits bill certified for fiscal note or estimate from being released from committee without fiscal note or estimate.

S 2500 requires that any bill certified for a fiscal note or estimate cannot be released from committee until a complete fiscal analysis is provided. This applies to all bills requiring such a note under New Jersey law, directly affecting legislators, committee chairs, and staff who handle bill processing. The key mechanism mandates that the Legislative Budget and Finance Officer must complete the fiscal analysis before a bill may proceed from committee, preventing premature committee action. The bill amends existing law to enforce this requirement, ensuring fiscal transparency before bills advance. (Procedural bill; summary limited to 3 sentences as requested.)

Topics ✓ Budget & Taxes

died · New Jersey · Senate Jan 13, 2026

S 2779: Makes supplemental appropriation of $615,000 to DHS for grant to NJ 2-1-1 Partnership.

This bill provides $615,000 in supplemental funding from the state General Fund to the New Jersey Department of Human Services (DHS) for a grant to the NJ 2-1-1 Partnership. The funding supports the existing statewide 2-1-1 service, which connects New Jersey residents to social services, health resources, and emergency assistance through a single phone number (2-1-1). The NJ 2-1-1 Partnership has served as the designated administrator of the 2-1-1 service in New Jersey since 2002, following state and federal designations. The bill was introduced in January 2026 but was withdrawn the same day as it was already covered under another enacted law (P.L.2025, c.394).

Topics ✓ Budget & Taxes

Sub-Topics Appropriations State Budget

in committee · New Jersey · Senate Jun 11, 2026

S 1059: Allows corporation business tax and gross income tax credits to businesses paying a salary differential to National Guard members or reservists on active duty.

This bill creates tax credits for New Jersey businesses that pay a salary differential to employees serving in the National Guard or reserve forces during active duty. Specifically, businesses can claim a credit equal to the amount they pay to make up the difference between an employee's regular salary and their military pay during active duty. The credit applies to both corporation business tax and gross income tax, but cannot exceed 50% of the business's tax liability for that period. It directly affects New Jersey employers with qualifying National Guard or reserve members who receive military orders for active duty.

Topics ✓ Budget & Taxes ✓ Labor & Employment ✓ Veterans

Sub-Topics Business Taxes Income Tax National Guard & Reserve

in committee · New Jersey · Senate Jan 13, 2026

S 2347: Provides gross income tax exclusion for military compensation paid to State residents for out-of-State military service.

This bill (S 2347) excludes certain military compensation from New Jersey's gross income tax for residents who serve outside the state. It directly affects New Jersey-domiciled service members stationed or deployed out-of-state for at least six months during a taxable year. The exclusion covers military pay, mustering-out payments, and housing/subsistence allowances received while serving in the U.S. Armed Forces or New Jersey National Guard on State active duty. The policy change means eligible service members will not pay New Jersey income tax on these specific military benefits. The bill applies to taxable years beginning after its enactment date.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Income Tax National Guard & Reserve

in committee · New Jersey · Senate Jan 13, 2026

S 1575: Requires State reimbursement to local government units for first-year uncollected property tax revenue attributable to veterans' property tax exemption.

This bill requires the state to reimburse local governments (municipalities, counties, school districts, and fire districts) for property tax revenue lost during the first year when a veteran qualifies for a 100% service-connected disability property tax exemption. It specifically covers veterans with qualifying disabilities (such as paraplegia, amputations, or total blindness) or their surviving spouses who meet the exemption criteria. Local governments must submit documentation to the state within 10 days of exemption approval, and the state treasurer must issue reimbursement within 10 days of each quarterly tax bill due date. The reimbursement applies only to the first tax year after exemption approval, not subsequent years. This change directly affects veterans receiving the exemption and local governments that previously absorbed the revenue loss.

Topics ✓ Budget & Taxes ✓ Education ✓ Veterans

Sub-Topics Property Tax Revenue Tax Incentives Veteran Healthcare Veteran Housing

in committee · New Jersey · Senate Jan 13, 2026

S 2521: Permits taxpayers to deduct the total amount of State property taxes paid on principal residence from gross income tax obligation.

This bill allows New Jersey residents to deduct the full amount of state property taxes paid on their primary home from their state income tax bill, removing a previous $15,000 annual cap. It applies to homeowners and renters of residential properties, with income-based limits: taxpayers earning over $150,000 but under $250,000 face a $5,000 deduction limit, while higher earners ($250,000+) are ineligible unless they qualify as elderly or disabled. The deduction covers property taxes paid during the calendar year and aligns with existing tax code provisions for primary residences. The bill amends New Jersey's Gross Income Tax Act to implement this change, effective for the 2026 tax year.

Topics ✓ Budget & Taxes

Sub-Topics Income Tax Property Tax

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