Budget & Taxes (Income Tax)

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

A 870: "Homeowners' Historic Property Reinvestment Act"; allows homeowners to claim credit against gross income tax for certain costs of rehabilitating historic properties.

This bill allows homeowners in New Jersey to claim a 25% tax credit against their state income tax for costs of rehabilitating qualified historic properties. It directly affects homeowners who own and occupy as their primary residence a property listed on the National Register of Historic Places, the New Jersey Register of Historic Places, or a locally designated historic district. To qualify, rehabilitation costs must equal at least 50% of the property's equalized assessed value, with no more than 60% of costs covering interior work, and the total credit for a property is capped at $25,000 over ten years. The credit reduces the homeowner's tax liability for the year the credit is certified, with excess amounts refunded as overpayments.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 25% tax credit reducing taxable income for qualifying homeowners rehabilitating historic properties, directly offering tax relief under state tax code.95% confidence

Sub-Topics Income Tax Property Tax Tax Credits

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

A 1776: Allows credit against corporation business tax and gross income tax liability for employing persons with a developmental disability.

This New Jersey bill allows businesses to claim a tax credit equal to 10% of wages paid to employees with developmental disabilities (verified by the state’s Division of Developmental Disabilities). The credit is capped at $3,000 per employee and $60,000 total per business annually for both corporation business tax and gross income tax. Businesses cannot claim this credit for the same employee if they also claim credits under existing disability employment programs. The credit applies to wages paid for any employment setting, not just specialized workshops.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credit reducing business tax liability, aligning with tax relief indicators for employment incentives.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax credit to incentivize hiring employees with developmental disabilities, promoting inclusive employment opportunities and supporting workforce inclusion in Labor & Employment policy.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits Tags People with Disabilities

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in committee · New Jersey · General Assembly Feb 12, 2026

A 4057: Provides for voluntary contributions by taxpayers on gross income tax returns to fund burial of indigent veterans.

This bill (A4057) creates the "Indigent Veterans’ Burial Services Fund" in New Jersey's Treasury. It allows taxpayers to voluntarily contribute a portion of their state tax refund or make a separate payment when filing their gross income tax return, directing funds to cover burial or cremation costs for indigent veterans. The fund specifically supports veterans who lack resources for burial - such as homeless veterans or those with abandoned remains - beyond the current system where counties cover up to $250 and the state provides additional funding up to $1,250. All collected contributions must be annually appropriated by the Legislature to the Department of Military and Veterans Affairs for these burial expenses.

Topics ✓ Budget & TaxesSupports Budget & TaxesVoluntary tax contributions fund burial services for indigent veterans, creating a dedicated public fund without tax increases.95% confidence ✓ VeteransSupports VeteransCreates fund for indigent veterans' burial costs via voluntary taxpayer contributions, directly funding a critical service for vulnerable veterans.95% confidence

Sub-Topics Income Tax Memorials & Recognition Veteran Education Veteran Housing

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in committee · New Jersey · General Assembly Feb 12, 2026

A 4024: Directs DOLWD to establish regional farm wage; provides corporation business tax credits and gross income tax credits to farm employers paying certain farm worker wages.

This bill establishes a regional farm wage in New Jersey by averaging agricultural wage data from Pennsylvania, New York, and Delaware. Farm employers who pay workers at least this regional wage qualify for tax credits against their business and gross income taxes, calculated based on the amount paid above the current state farm wage but not below the regional rate. The credits can be carried forward for up to four years if not fully used in the current tax period. This policy directly affects New Jersey farm employers who hire workers on a piece-rate or hourly basis for farm labor.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides business and gross income tax credits to farm employers meeting regional wage standards, directly reducing tax burden and incentivizing higher wages through fiscal policy.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill establishes regional farm wage above current state rate, requiring employers to pay at least this amount for tax credits. Directly increases minimum wage for farm workers, advancing labor rights.95% confidence

Sub-Topics Business Taxes Income Tax Labor Standards Minimum Wage Tags Agriculture

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in committee · New Jersey · General Assembly Feb 19, 2026

A 4368: Authorizes County Agriculture Development Boards to establish program to receive and lease donated farmland to new farms, establishes gross income tax credit for farmers who donate land.

This bill allows New Jersey's County Agriculture Development Boards to create a program accepting donated farmland from commercial farmers and leasing it to new farmers residing in the state. It also establishes a tax credit for donating land, capped at $100,000 or the value of the donated portion (calculated as a share of the farm's assessed value based on the donated acreage). To qualify for leased land, new farmers must meet board-established criteria, including New Jersey residency. Donors must apply for certification through the board to claim the tax credit, which is processed by the Division of Taxation.

Topics ✓ Budget & TaxesSupports Budget & TaxesEstablishes gross income tax credit for land donations, providing direct tax relief to qualifying farmers per bill's summary.95% confidence

Sub-Topics Income Tax Property Tax Tax Credits

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

A 2816: Extends veteran's gross income tax exemption to spouses of deceased veterans.

This bill (A 2816) amends New Jersey's tax code to extend a $6,000 gross income tax exemption currently available to veterans to the spouses of deceased veterans. Under the current law, a veteran's spouse could claim this exemption only in the tax year the veteran died (if filing jointly), but not in future years. The bill would allow the spouse to continue claiming the $6,000 exemption starting the year after the veteran's death, and until the year they remarry. This directly affects surviving spouses of veterans who were honorably discharged and eligible for the exemption in their final tax year.

Topics ✓ Budget & TaxesSupports Budget & TaxesExtends $6,000 tax exemption to surviving spouses, providing ongoing tax relief for vulnerable veterans' families, directly aligning with tax relief indicators.95% confidence ✓ VeteransSupports VeteransExtends tax exemption to surviving spouses, expanding financial benefit beyond current law's one-year limit for veterans' families.95% confidence

Sub-Topics Income Tax Tax Incentives Military Families

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

A 2394: Provides corporation business tax credits and gross income tax credits to employers that hire certain individuals through One-Stop Career Centers.

This bill provides New Jersey employers with tax credits of up to $3,000 per qualified employee hired through One-Stop Career Centers. To qualify, employees must have been unemployed for at least 60 days, completed required training at a career center, and earned an industry-recognized credential during that unemployment period. Employers must retain employees for a minimum of 90 days to claim the credit, which applies to both corporation business tax and gross income tax liabilities. The credits cannot exceed 50% of a taxpayer’s liability and may be carried forward for up to seven years if unused. This directly affects New Jersey employers hiring eligible job seekers who completed workforce training programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits reducing employer tax liability to incentivize hiring, aligning with tax relief and fiscal incentives for job creation.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentOffers tax credits to employers hiring unemployed individuals who completed training/credentials, promoting job placement and skills development for workers through career centers.90% confidence

Sub-Topics Business Taxes Income Tax Unemployment Workforce Development

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

A 117: Allows certain volunteer firefighters, rescue and first aid squad members to claim $5,000 income tax deduction.

This New Jersey bill (A 117) allows eligible volunteer firefighters, first aid, and rescue squad members to claim a $5,000 deduction from their state income tax. To qualify, volunteers must serve the entire tax year and meet specific duty requirements: firefighters need 60% fire service attendance (or 400+ duty hours with ≤50% drills) plus Firefighter I certification, while rescue members need 10% rescue service attendance (or 400+ duty hours) plus EMT training. Departments must verify eligibility annually by submitting lists to state health or community affairs departments by March 31, and taxpayers must provide proof with their tax claim. The deduction applies to tax years starting after the bill’s enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief for volunteer first responders via $5,000 deduction, aligning with middle-income tax support and fiscal responsibility indicators.95% confidence

Sub-Topics Income Tax

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

A 3791: Provides gross income tax exclusion for minimum required distributions from qualified retirement plans.

This bill (A 3791) excludes "minimum required distributions" (RMDs) from New Jersey's gross income tax. RMDs are mandatory annual withdrawals from retirement plans for people aged 72+ under federal law. The bill applies to qualified retirement plans defined under federal tax code section 4974, directly benefiting New Jersey seniors who receive these distributions. It would reduce their state income tax burden by removing RMDs from taxable income, effective for taxable years after enactment.

Topics ✓ Budget & TaxesSupports Budget & TaxesExcludes RMDs from NJ gross income tax, reducing seniors' tax burden - tax relief for retirees (aligns with tax relief indicator).90% confidence

Sub-Topics Income Tax

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

A 769: Establishes gross income tax credit and corporation business tax credit for student loan payments.

This New Jersey bill (A 769) creates tax credits to help residents and employers offset student loan payments. Eligible residents with an associate's, bachelor's, or graduate degree in STEM fields who worked in New Jersey during the tax year can claim a credit against their state income tax for qualifying student loan payments. Employers also qualify for a credit if they pay employees' student loans directly, with a 50% credit for part-time workers. The credit amount is based on a standard repayment calculation, and unused credits can carry forward for up to seven years. The bill is currently in committee (introduced January 13, 2026).

Topics ✓ Budget & TaxesSupports Budget & TaxesCreates tax credits for STEM workers and employers, providing direct tax relief which alignates with support indicators for tax relief.95% confidence

Sub-Topics Business Taxes Income Tax Tax Credits

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