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 (A-2573) updates New Jersey's NJBEST program, which helps families save for education expenses. It increases the tax-free asset protection threshold from $25,000 to $50,000 per account, expands tax deductions for contributions (up to $15,000 annually for lower-income filers), and creates new matching grants: $1,000 for initial deposits by low-income account holders and $500 for transfers from out-of-state 529 plans. The bill also establishes an advisory council to guide program management and clarifies that grant funds are not counted as taxable income. These changes directly benefit New Jersey residents opening or contributing to NJBEST accounts, particularly lower-income families.