"New Jersey Disability Savings Act."

This bill creates tax incentives for New Jersey residents with disabilities to save for disability-related expenses through ABLE accounts. It provides a one-time $750 dollar-for-dollar matching grant for initial deposits into a New Jersey ABLE account (for taxpayers earning $150,000 or less annually) and allows a state tax deduction for all contributions to these accounts. The matching funds are subject to annual state budget approval, with the Department of Human Services determining allocation if funding is insufficient. The program expands New Jersey’s existing ABLE program, which allows tax-advantaged savings for expenses like housing, education, and assistive technology, without affecting Medicaid eligibility.