Budget & Taxes (State Budget) in New Jersey

in committee · New Jersey · Senate Jan 13, 2026

SR 35: Urges federal government to repeal state and local tax deduction caps.

This Senate Resolution (SR 35) urges the federal government to repeal the $10,000 cap on state and local tax (SALT) deductions established by the 2017 Tax Cuts and Jobs Act. It specifically addresses New Jersey residents, who historically claimed the SALT deduction (41% of filers), face high property taxes (averaging $9,112 in 2020), and are impacted by the cap’s restriction on deducting state/local taxes. The resolution highlights New Jersey’s status as a "donor state" (paying more in federal taxes than received in funding) and notes that the cap has exacerbated financial strain amid the pandemic, with many residents relocating to lower-tax states. As a non-binding resolution, it does not change law but formally requests federal action.

Topics ✓ Budget & Taxes

Sub-Topics Sales Tax State Budget

in committee · New Jersey · Senate Jan 13, 2026

S 1239: Creates "Manufacturing Reboot Program" in EDA to provide financial assistance to certain manufacturing businesses; makes $10 million appropriation to EDA.

S 1239 creates a "Manufacturing Reboot Program" within New Jersey's Economic Development Authority (EDA), providing financial assistance to eligible manufacturing businesses affected by the pandemic. It appropriates $10 million from the state General Fund - $5 million prioritizing businesses producing coronavirus vaccines and $5 million for other healthcare products like PPE or medical devices - to fund grants of $25,000-$150,000 per business. Qualified businesses must operate facilities with over 50% manufacturing equipment, pay above-average salaries with health benefits, and demonstrate market expansion or capacity to pivot to healthcare manufacturing. Grant funds can cover equipment, payroll, or employee training, with businesses required to report quarterly on employment and spending, and the EDA to submit annual program reports to the Governor and Legislature.

Topics ✓ Budget & Taxes ✓ Healthcare

Sub-Topics Appropriations State Budget

in committee · New Jersey · Senate Jan 13, 2026

S 2389: Increases amount of cigarette and other tobacco products tax revenues provided to New Jersey Commission on Cancer Research from $1 million to $4 million; establishes dedicated, non-lapsing Cancer Research Fund.

S 2389 increases annual funding for New Jersey's Commission on Cancer Research from $1 million to $4 million by redirecting tobacco tax revenues into a dedicated Cancer Research Fund. This replaces the previous lapsing fund that had been diverted to the General Fund, ensuring the $4 million is permanently available for cancer research. The new non-lapsing fund, managed by the State Treasurer, will exclusively provide grants for research projects approved by the Commission, with interest earned also funding the cause. This change guarantees stable, long-term support for the Commission's work on cancer prevention, treatment, and research in New Jersey.

Topics ✓ Budget & Taxes ✓ Healthcare

Sub-Topics State Budget

in committee · New Jersey · Senate Jan 13, 2026

S 2130: Establishes Deep Fake Technology Unit in DLPS; appropriates $2 million.

This bill proposes creating a Deep Fake Technology Unit within New Jersey's Department of Law and Public Safety to address AI-generated deceptive videos and audio. The unit will provide law enforcement, prosecutors, and courts with technical training, evidence analysis, and expert testimony to investigate "deep fakes" - manipulated media designed to falsely depict people speaking or acting. It requires the unit to issue annual reports detailing its work, technological trends in deep fake creation, and policy recommendations. The bill appropriates $2 million from the state budget to fund the unit's operations, which would be established within six months of enactment. The bill is currently pending before the Senate Law and Public Safety Committee.

Topics ✓ Budget & Taxes ✓ Criminal Justice ✓ Technology

Sub-Topics State Budget Law Enforcement Artificial Intelligence

in committee · New Jersey · Senate Feb 12, 2026

S 2161: Increases amounts of certain payments in lieu of taxes paid for lands owned by State or nonprofit organization for recreation and conservation purposes.

This bill (S 2161) increases compensation payments to New Jersey municipalities for lost property tax revenue when the State or qualifying nonprofit organizations own land for recreation or conservation. It raises annual payments for the first 13 years after land acquisition (starting at 100% of prior tax value and decreasing annually), then transitions to higher per-acre rates after year 13 based on the percentage of such land in the municipality (e.g., $3-$40 per acre depending on whether land constitutes less than 20%, 20-40%, 40-60%, or over 60% of the municipality’s total area). The payments, funded from the General Fund, replace previous formulas and apply to lands owned by the State, nonprofits, or the Palisades Interstate Park Commission. Municipalities directly affected are those with significant State or nonprofit-owned recreation/conservation lands.

Topics ✓ Budget & Taxes ✓ Environment

Sub-Topics Property Tax Revenue State Budget Conservation Parks & Recreation

in committee · New Jersey · Senate Jan 13, 2026

S 2510: Requires Governor to transmit budget sustainability statement along with annual budget message.

S 2510 requires New Jersey's Governor to include a budget sustainability statement with the annual budget message. This statement must analyze whether proposed spending for the next fiscal year can be sustained without raising taxes or reducing state savings, including accounting for structural spending gaps, one-time revenues, and mandatory increases from debt payments, contracts, or public assistance programs like Medicaid. The bill mandates that any projected spending increases must be offset by estimated future revenue or reduced mandatory spending. It applies to all budget recommendations and takes effect immediately for the next budget cycle. This requirement aims to improve long-term fiscal planning by making sustainability analysis a standard part of the budget process.

Topics ✓ Budget & Taxes

Sub-Topics State Budget

in committee · New Jersey · Senate Jan 13, 2026

S 2023: Requires cost of living increase to be granted in each of two calendar years for certain retired members and beneficiaries of PFRS; makes appropriation.

This bill provides two annual cost-of-living adjustments (COLAs) to retired police and fire personnel and their beneficiaries (surviving spouses, children, or other designated recipients) who receive monthly payments from New Jersey’s Police and Firemen’s Retirement System (PFRS). Eligibility is limited to those whose original monthly benefit was at or below 450% of the federal poverty level for a single person (approximately $61,155 annually in 2022). The adjustment amount is calculated using a formula based on the regional Consumer Price Index, capped between 1% and 3% of the index, and paid on January 1 of the year after the bill’s effective date and the following year. The state would appropriate funds from the General Fund to cover these increases, with no impact on those receiving benefits above the eligibility threshold.

Topics ✓ Budget & Taxes

Sub-Topics Appropriations Pensions State Budget

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

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 Feb 19, 2026

S 202: Requires Rutgers University study economic impact of military installations in NJ; appropriates $155,000.

S 202 requires Rutgers University’s Bloustein School to study how military installations in New Jersey affect the state economy, including jobs, tax revenue, infrastructure projects, and overall economic impacts. The study must analyze direct and indirect effects at both state and county levels, with a report due to the Governor and Legislature within one year. The bill allocates $155,000 from state funds to cover Rutgers’ costs for conducting the study. The findings will provide data to inform state budget and planning decisions related to military installations.

Topics ✓ Budget & Taxes

Sub-Topics Revenue State Budget

All budget & taxes bills