Modifies certain tax brackets under gross income tax.

This bill modifies New Jersey's individual income tax brackets, primarily raising the income threshold for the lowest tax rate. For tax years starting in 2022 and later, the 1.4% tax rate now applies to taxable income under $68,510 (up from $20,000), while the 1.75% rate begins at $68,510 instead of $20,000. These changes directly affect New Jersey residents filing individual income tax returns, particularly middle-income earners whose tax liability decreases under the revised brackets. The bill updates the existing tax code without altering the highest marginal rates for top earners.