Establishes 90-day State tax amnesty period ending no later than January 15, 2026; dedicates revenues collected during tax amnesty period for Stabilization Aid to school districts; appropriates up to $15 million.

S 1603 creates a 90-day tax amnesty period ending January 15, 2026, allowing New Jersey taxpayers with overdue state taxes (for returns due between September 2017 and January 2025) to pay with only half the interest due as of November 1, 2025 and without penalties like late fees. Taxpayers must pay the full tax amount plus reduced interest to participate, and they forfeit all rights to appeal the tax liability. All revenue collected during this period will fund a dedicated Stabilization Aid Account, which provides financial support to school districts experiencing reduced state school aid compared to the prior year. The bill also allocates up to $15 million from this account to cover administrative costs of running the amnesty program.