Improves management and administration of New Jersey Better Education Savings Trust program; establishes grants and additional tax incentives for New Jersey Better Education Savings and Trust account contributions; creates New Jersey Better Education Savings and Trust Advisory Council.

This bill improves New Jersey's NJBEST college savings program. It increases the amount of money in NJBEST accounts that doesn't count toward financial aid eligibility from $25,000 to $50,000. The bill expands tax benefits by raising the income limit for tax deductions from $200,000 to $300,000 and increasing the deduction limit from $10,000 to $15,000. It also creates new grants for low- and middle-income families, including up to $1,000 for initial deposits and an additional $100 per year for those using automated investment plans, and establishes an NJBEST Advisory Council to review and improve the program's operation.