Provides gross income tax deductions for membership fees, dam project assessments, and potable water system project assessments paid to lake associations.

S 1317 allows New Jersey taxpayers to deduct certain payments made to private lake associations from their gross income. Specifically, it permits deductions for membership fees, dam project assessments (for dam construction/repair), and potable water system assessments (for safe drinking water systems). This applies only to payments made to lake associations defined as private property owner groups with exclusive lake access (not open to the public). The deduction reduces taxable income for individuals who pay these specific fees to qualifying lake associations, effective for taxable years starting January 1 after enactment.