Allows gross income tax deduction of up to $1,200 for purchases of school supplies by parents and guardians.

This bill allows New Jersey parents and guardians to deduct up to $1,200 from their taxable income for eligible school supply purchases made for students in public or private K-12 schools or higher education institutions. It specifically covers common items like notebooks, pencils, folders, calculators, paper, and other standard classroom materials. The deduction applies to purchases made during the taxable year and takes effect for years beginning after the bill's enactment date. This creates a direct tax benefit for families covering recurring school-related expenses.