"New Jersey Disability Savings Act."

The New Jersey Disability Savings Act (S 804) provides two state tax incentives for individuals with disabilities and their families: a one-time, dollar-for-dollar match of up to $750 for initial deposits into a New Jersey ABLE account (for taxpayers with gross income of $150,000 or less) and a state tax deduction for all contributions to these accounts. These incentives aim to help cover disability-related expenses like housing, education, medical costs, and assistive technology. The matching grant is subject to annual state funding, meaning it may be reduced or unavailable if appropriations fall short.