Provides retirement income exclusion under gross income tax for certain persons with income over $3,000 from part-time employment.

This bill (S 982) modifies New Jersey's retirement income tax exclusion to help seniors aged 62+ who work part-time. It allows individuals with retirement income to exclude that income from taxable income even if they earned over $3,000 from part-time employment (defined as less than 30 hours/week), which previously disqualified them. The exclusion amount is reduced based on part-time earnings: subtracting (2,000 × minimum wage) and any other claimed exclusion. It specifically excludes those working full-time (30+ hours/week) from this provision. The bill affects New Jersey retirees with modest part-time income who would otherwise lose their retirement tax benefit.