Excludes contributions made to certain retirement savings plans under gross income tax.

This bill changes New Jersey's tax code to exclude certain retirement savings contributions from taxable gross income. It directly affects New Jersey residents who contribute to qualifying retirement plans, such as 401(k)s or IRAs, by reducing their taxable income for state tax purposes. The key provision amends the definition of "gross income" to specify that contributions to these plans are not counted toward taxable earnings. As a result, taxpayers would pay less state income tax on the amounts they save for retirement through these qualified plans. The bill is currently in the introduction stage (2026-01-13) and has not yet been voted on.