Budget & Taxes

in committee · New Jersey · General Assembly Jun 4, 2026

A 5196: Imposes gross income tax at rate of 100 percent on amounts received by resident taxpayers from Anti-Weaponization Fund.

This bill requires New Jersey residents who receive money from the Anti-Weaponization Fund to pay a 100 percent state income tax on those funds. It directly affects individuals approved to claim relief from this fund, which was created by a federal settlement related to a lawsuit against the Internal Revenue Service. Under the legislation, recipients cannot use any standard tax deductions, exemptions, or credits to reduce the tax owed on these payments. The law takes effect immediately for any taxable years beginning on or after January 1, 2026, and is administered by the state's Division of Taxation.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill imposes a 100% tax on specific income, directly increasing the tax burden on recipients.95% confidence

Sub-Topics Income Tax

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in committee · New Jersey · Senate Jun 30, 2026

S 4533: Establishes fee on certain employers that employ individuals who receive health benefits coverage through State Medicaid program.

This New Jersey bill requires employers with at least 50 employees who receive Medicaid benefits to pay an annual fee to the state. The fee amount varies based on the size of the employer's Medicaid-covered workforce, ranging from $325 to $725 per employee and dependent. Employers must report the number of covered individuals by December 31, after which the state notifies them of their payment liability by March 1. The legislation includes an exemption for employees with developmental, intellectual, or permanent physical disabilities. Revenue generated from these fees is intended to help cover the costs of the state's Medicaid program.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill imposes a new fee on employers, increasing the tax burden on businesses and potentially reducing resources for Medicaid coverage.95% confidence ✗ HealthcareOpposes HealthcareBill imposes fees on employers with Medicaid-covered workers, effectively increasing costs for healthcare access and potentially reducing coverage.85% confidence ✗ Labor & EmploymentOpposes Labor & EmploymentBill imposes a new fee on employers based on Medicaid-covered employees, effectively increasing labor costs and potentially restricting hiring or benefits.85% confidence

Sub-Topics Medicaid

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in committee · New Jersey · Senate Jun 22, 2026

S 4512: Reduces tax credits available for Next New Jersey Program from $500 million to $250 million.

This bill reduces the total amount of tax credits available under the Next New Jersey Program from $500 million to $250 million. It directly affects businesses and organizations in New Jersey that apply for financial incentives to support projects in areas such as historic preservation, brownfield redevelopment, innovation, food access, and cultural arts. The legislation establishes specific annual and overall spending limits for each of these sub-programs, ensuring that the total funding allocated over a nine-year period does not exceed the new cap. Additionally, the bill directs a portion of the tax credits for brownfield redevelopment to be sold through competitive auctions, with the proceeds designated for housing and mortgage initiatives.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces tax credit funding from $500M to $250M, cutting financial incentives for businesses and organizations.95% confidence ✗ HousingOpposes HousingBill cuts funding for Next New Jersey Program, which supports housing development and brownfield redevelopment, thereby limiting housing expansion.85% confidence

Sub-Topics Community Development Historic Preservation Mortgages

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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

Sub-Topics Business Taxes

in committee · New Jersey · Senate Jun 4, 2026

S 4405: Imposes gross income tax at rate of 100 percent on amounts received by resident taxpayers from Anti-Weaponization Fund.

This bill requires New Jersey residents who receive money from the Anti-Weaponization Fund to pay a 100 percent gross income tax on those funds. The legislation explicitly disallows any deductions, exemptions, or tax credits for this specific income, ensuring the full amount is taxed. The Anti-Weaponization Fund is a settlement established by the U.S. Attorney General to compensate individuals claiming they were victims of alleged government overreach, and this bill asserts the state's right to tax those payments.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill imposes a 100% tax on specific income, effectively confiscating funds and increasing tax burden on recipients.95% confidence

Sub-Topics Income Tax

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in committee · New Jersey · Senate Jun 30, 2026

S 4536: Imposes temporary $1 million cap on use of net operating loss deductions under corporation business tax for certain privilege periods.

This bill imposes a temporary limit of $1 million on the amount of net operating loss deductions that corporations can claim under New Jersey's corporation business tax. It directly affects businesses with privilege periods ending between July 31, 2026, and July 31, 2030, restricting how much they can use past losses to lower their current taxable income. For periods ending between 2030 and 2032, any disallowed deductions may be used to reduce income by no more than 75 percent, and unused amounts can be carried forward for an additional six years. The legislation also waives interest and penalties on estimated tax payments made during a specific window if those underpayments result from the new deduction limits.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill restricts net operating loss deductions, limiting tax relief for corporations and increasing taxable income.95% confidence

Sub-Topics Business 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

Sub-Topics Medicaid

in committee · New Jersey · Senate Jun 8, 2026

S 4421: Provides 10-year sales and use tax exemption for sales of materials, supplies, and services for certain energy infrastructure projects.

This bill creates a ten-year exemption from New Jersey sales and use taxes for materials, supplies, and services used exclusively in specific energy infrastructure projects. The measure directly affects contractors, subcontractors, and repairmen working on new energy generation facilities, major improvements to existing ones, or new and upgraded energy storage systems. By waiving these taxes for the duration of the project, the legislation aims to reduce costs for the construction and enhancement of state energy assets. The tax exemption begins the year after the law is enacted and runs through the end of the tenth year following that start date.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill waives sales and use taxes for energy infrastructure, reducing state revenue and effectively cutting funding for public services.85% confidence ✓ EnergySupports EnergyBill provides tax exemptions for energy infrastructure projects, directly funding and promoting energy development.95% confidence

Sub-Topics Sales Tax Tax Incentives Energy Storage

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in committee · New Jersey · Senate Jun 30, 2026

S 4537: Modifies eligibility for alternative business calculation adjustment allowed under gross income tax.

This bill modifies New Jersey's gross income tax by restricting the alternative business calculation adjustment for taxpayers with higher incomes. It allows business owners to net losses from specific income categories, such as rents or royalties, against gains to determine their taxable business income. Under the new rules, effective for tax years starting in 2026, taxpayers earning $500,000 or less can still deduct 50% of their business profit increase, while those earning between $500,000 and $1 million can only deduct 25%. The bill completely eliminates this tax deduction for individuals with gross income exceeding $1 million.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill restricts tax deductions for higher-income taxpayers, limiting the ability to net losses against gains, which reduces tax relief for those earning over $500,000.85% confidence

Sub-Topics Business Taxes Income Tax

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in committee · New Jersey · General Assembly May 14, 2026

A 5086: "Property Tax Relief Act"; makes various changes to SHBP and SEHBP administration and limits reimbursement for certain medical procedures.

This bill, titled the Property Tax Relief Act, modifies how the State Health Benefits Program and the School Employees' Health Benefits Program operate in New Jersey. It limits reimbursement for specific medical procedures like knee and hip replacements, MRIs, and colonoscopies to the lowest available price, unless the service is provided at certain rural or critical access hospitals or in an emergency. The legislation also requires non-state employers to commit to staying in the program for three years if they join or leave, and it establishes a five-member commission to oversee the program's administration.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill limits reimbursement for medical procedures, effectively reducing government spending on health benefits.85% confidence ✗ HealthcareOpposes HealthcareBill limits reimbursement for specific medical procedures to the lowest available price, restricting patient access and reducing benefits.90% confidence

Sub-Topics Property Tax

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