Excludes bonuses for reenlistment or voluntary extension of enlistment in armed forces from gross income.

This New Jersey bill excludes military reenlistment and voluntary extension bonuses from state gross income tax. It directly affects active-duty service members in the U.S. Armed Forces who receive these bonuses while residing in New Jersey. The key provision amends state tax law to specifically exempt these bonuses from taxable income, meaning eligible service members won't pay state income tax on them. The change applies to taxable years beginning after the bill's enactment date.