Budget & Taxes

signed · New Jersey · Senate Jun 30, 2026

S 4531: Increases amount of child tax credit in taxable years 2026, 2027, and 2028.

This New Jersey bill temporarily increases the state child tax credit for residents with incomes up to $80,000 during the tax years 2026, 2027, and 2028. The legislation raises the credit amount by $250 for each income bracket, providing an additional $250 to families earning $30,000 or less and reducing the credit by $250 for those earning between $60,000 and $80,000. After these three years, the credit amounts will revert to their previous levels. The bill does not affect taxpayers with incomes above $80,000 or children over the age of six.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases child tax credit for lower/middle-income families, providing tax relief and financial support.90% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

signed · New Jersey · General Assembly Jun 30, 2026

A 5322: Imposes temporary $1 million cap on use of net operating loss deductions under corporation business tax for certain privilege periods.

This bill limits the amount of net operating loss deductions that corporations in New Jersey can claim under the corporation business tax to a maximum of $1 million per tax period. It applies to privilege periods ending between July 31, 2026, and July 31, 2030, affecting approximately 600 taxpayers. If a company cannot use its full deduction due to this cap, the unused portion can be carried forward for an additional six tax periods or used to reduce taxable income by up to 75% in later periods ending between 2030 and 2032. The legislation also waives interest and penalties on estimated tax payments made between late 2025 and early 2027 that result from these new limits.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill restricts net operating loss deductions for corporations, limiting tax benefits and reducing fiscal flexibility for businesses.90% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

signed · New Jersey · General Assembly Jun 30, 2026

A 5330: Permits Director of Division of Pensions and Benefits to initiate temporary transfer of funds in certain circumstances.

This bill amends the School Employees' Health Benefits Program Act to allow the Director of the Division of Pensions and Benefits to initiate temporary transfers of funds under specific circumstances. The legislation directly affects school employers and their employees by modifying how health benefit premiums are paid and managed within the state's dedicated fund. Key provisions include establishing rules for employer payment obligations, creating a subaccount for claims and health services, and defining the data collection responsibilities of a third-party medical claims reviewer. The bill also clarifies that the program's assets must be used solely for providing benefits and covering administrative costs for covered employees and their dependents.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill enables temporary fund transfers to manage health benefits, ensuring program solvency and fiscal stability for school employees.75% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

signed · New Jersey · General Assembly Jun 30, 2026

A 5323: Modifies eligibility for alternative business calculation adjustment allowed under gross income tax.

This bill modifies New Jersey's gross income tax by introducing income limits for a specific tax adjustment that allows businesses to offset losses in one category against gains in another. Under the new rules, taxpayers with gross income of $500,000 or less will retain the ability to deduct 50 percent of their calculated business increment from their taxable income. For those earning between $500,000 and $1 million, the deduction is reduced to 25 percent, while individuals with gross income exceeding $1 million will no longer be eligible for any deduction. The legislation also clarifies that losses from this calculation can be carried forward for up to 20 taxable years to offset future income.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill reduces tax burden for lower-income businesses by preserving full deductions, while limiting benefits for higher earners, promoting fiscal equity.85% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

signed · New Jersey · Senate Jun 30, 2026

S 4538: Makes FY2026 supplemental appropriations of $358,811,000; adds and amends various language provisions to FY2026 Appropriations Act.

This bill provides an additional $358.8 million in funding for New Jersey state agencies and local governments for fiscal year 2026. The money is allocated to various departments, including support for domestic violence housing, prison consolidation savings, school infrastructure, and mosquito control. Specific provisions also authorize a supplemental appropriation for the Cannabis Regulatory Fund and allow nonprofit organizations to host the state's AI supercomputer. Overall, the legislation amends the existing FY2026 Appropriations Act to distribute these funds across education, health, public safety, and other state services.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides $358.8M in supplemental appropriations to fund state agencies and local governments for essential services.95% confidence ✓ Criminal JusticeSupports Criminal JusticeBill allocates funds for prison consolidation savings and domestic violence housing, which supports corrections and victim safety within criminal justice.65% confidence ✓ EducationSupports EducationBill allocates $358.8M for state agencies including specific funding for school infrastructure, directly strengthening the education sector.85% confidence ✓ HousingSupports HousingBill allocates funds for domestic violence housing, which directly supports housing needs for vulnerable populations.65% confidence ✓ TechnologySupports TechnologyBill authorizes nonprofit organizations to host the state's AI supercomputer, directly advancing technology infrastructure and access.75% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

passed · New Jersey · Senate Jun 30, 2026

S 4495: Allows use of Green Acres funds to fully fund certain projects on State-owned land by certain nonprofit organizations.

This bill allows qualifying nonprofit organizations to receive full funding from the Green Acres Fund for projects on State-owned land without being required to provide matching funds. It changes existing rules that typically mandate nonprofits contribute their own money alongside state grants for development, repairs, or improvements of public property. The legislation specifically targets tax-exempt nonprofits working on facilities used for education, research, or recreation to help maintain and upgrade these sites. By removing the matching fund requirement, the bill aims to improve the repair and operation of State lands managed by these organizations.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill increases funding availability for nonprofit projects on state land by removing matching fund requirements, strengthening fiscal support for education and recreation.85% confidence ✓ EnvironmentSupports EnvironmentBill funds nonprofit projects on state land for education, research, and recreation, directly advancing environmental conservation and resource management.85% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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vetoed · New Jersey · General Assembly Jun 30, 2026

A 5327: Appropriates $60,743,569,000 in State funds and $30,495,124,195 in federal funds for the State budget for fiscal year 2027.

This bill authorizes the New Jersey State budget for fiscal year 2027 by allocating approximately $60.7 billion in state funds and $30.5 billion in federal funds. The legislation distributes these resources across various government departments, including education, health, and human services, with specific amounts designated for direct state services, grants, and state aid. While the total appropriation is slightly higher than the governor's original proposal, the bill ensures that anticipated revenue covers projected spending for the upcoming fiscal year.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill explicitly appropriates over $90 billion in state and federal funds for the 2027 budget, directly funding essential services like education and health.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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in committee · New Jersey · General Assembly Jun 30, 2026

A 5333: Appropriates $15,546,575 to DEP from constitutionally dedicated CBT revenues for grants to certain nonprofit entities to acquire or develop lands for recreation and conservation purposes, and for certain administrative expenses.

This bill appropriates $15,546,575 from constitutionally dedicated corporation business tax revenues to the Department of Environmental Protection for conservation grants. The funds will be distributed to specific tax-exempt nonprofit organizations to help them acquire or develop land for recreation and conservation purposes across New Jersey. The legislation authorizes grants for three designated projects: the D&R Greenway Land Acquisitions Trust, the Lamington Conservancy Central Project, and the New Jersey Conservation Foundation Priority Area Acquisitions. Additionally, the bill allocates money for administrative expenses related to these conservation efforts.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill appropriates dedicated tax revenues to fund conservation grants and land acquisition, directly increasing funding for public services.95% confidence ✓ EnvironmentSupports EnvironmentBill allocates funds to the DEP for conservation grants to acquire and develop lands for recreation and conservation purposes.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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signed · New Jersey · General Assembly Jun 30, 2026

A 5324: Establishes fee on certain employers that employ individuals who receive health benefits coverage through State Medicaid program.

This New Jersey bill introduces a new fee for employers who have at least 50 employees receiving Medicaid health coverage. The fee amount varies based on company size, charging $325, $525, or $725 per covered employee and their dependents depending on whether the employer has between 50-249, 250-499, or 500 or more Medicaid recipients. Employers with employees who have developmental, intellectual, or permanent physical disabilities are exempt from paying this charge. The revenue generated from these fees is intended to help cover the costs of the State Medicaid program.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill imposes new fees on employers, increasing the tax burden on businesses and potentially reducing funds available for other state services.95% confidence ✗ HealthcareOpposes HealthcareBill imposes a fee on employers for Medicaid recipients, effectively increasing costs for providing health coverage and potentially restricting access or funding.85% confidence ✗ Labor & EmploymentOpposes Labor & EmploymentBill imposes a fee on employers with Medicaid-covered employees, increasing labor costs and potentially restricting hiring or benefits.85% confidence | Rep's Stance ✓ Voted Yes ✗ Opposes Budget & Taxes

in committee · New Jersey · General Assembly Jun 30, 2026

A 5334: Appropriates $77,406,208 from constitutionally dedicated CBT revenues and various Green Acres funds to DEP for local government open space acquisition and park development projects, and for certain administrative expenses.

This bill allocates approximately $77.4 million from dedicated tax revenues and Green Acres funds to the Department of Environmental Protection to support local governments in New Jersey. The money will be used to provide grants or loans for acquiring and developing land for recreation and conservation purposes, as well as for certain administrative expenses. Specific funding is designated for open space acquisition and planning projects in several municipalities, including Burlington, Gloucester, Livingston, Verona, West Orange, and Kingwood. The legislation defines eligibility based on population density and utilizes existing funds made available through interest earnings, loan repayments, and project cancellations.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allocates $77.4M from dedicated revenues to fund open space and park development, directly strengthening government spending for public services.95% confidence ✓ EnvironmentSupports EnvironmentBill allocates $77.4M to DEP for open space acquisition and park development, directly conserving natural resources.95% confidence | Rep's Stance ✓ Voted Yes ✓ Supports Budget & Taxes

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