Increases gross income tax deduction available to veterans from $6,000 to $12,000.

This bill increases New Jersey's gross income tax deduction for eligible veterans from $6,000 to $12,000. It directly affects veterans who were honorably discharged or released under honorable circumstances from active duty in the U.S. Armed Forces, reserve components, or the New Jersey National Guard in federal active duty status. The key provision amends the state tax code to double the deduction amount available when calculating taxable income. The change applies to taxable years beginning after the bill's enactment date. This is a direct tax benefit that reduces the taxable income for qualifying veterans.