Allows gross income tax deduction for sales and use tax and societal benefits charges paid on electric and gas utility bills.

This bill allows New Jersey taxpayers to deduct sales and use taxes and societal benefits charges paid on their electric and gas utility bills from their gross income. The primary change applies specifically to taxes associated with utility service provided to a taxpayer's principal residence. By permitting this deduction, the legislation aims to reduce the taxable income for individuals who pay these specific utility-related fees. The bill amends existing state statutes to formalize this new tax treatment without altering how utility companies collect or report these charges.