Excludes certain retirement savings plan contributions, withdrawals, and rollovers from gross income tax.

This New Jersey bill (A-569) would exclude certain retirement savings plan contributions, withdrawals, and rollovers from state income tax calculations. It directly affects New Jersey residents who use retirement accounts like 401(k)s or IRAs, as these transactions would no longer be counted toward their taxable income. The key mechanism is amending the state's gross income definition to explicitly exempt these retirement-related transactions from taxation. This change would reduce the taxable income of qualifying retirement account holders without altering federal tax treatment.