Budget & Taxes in New Jersey

in committee · New Jersey · Senate Jan 13, 2026

S 2294: Provides $3,000 gross income tax deduction for certain taxpayers providing home care for an elderly relative.

This New Jersey bill (S 2294) provides a $3,000 annual deduction from gross income for eligible taxpayers who care for elderly relatives. It directly affects low-to-moderate-income individuals: single filers earning under $35,000 or joint filers earning under $50,000 who provide over half the support for a relative aged 70+ living with them for at least six months each year. The deduction reduces taxable income, lowering the tax burden for qualifying caregivers. It applies to taxable years beginning after the bill's enactment date.

Topics ✓ Budget & Taxes

Sub-Topics Income Tax

in committee · New Jersey · Senate Jan 13, 2026

S 157: Establishes Office of Alcohol and Drug Use Disorders Policy to oversee, direct, and coordinate resources, funding, and data tracking concerning treatment of substance use disorders.

This bill establishes a new Office of Alcohol and Drug Use Disorders Policy within New Jersey's Executive Branch, independent of the Department of the Treasury but reporting directly to the Governor. The office coordinates all state efforts related to substance use disorder treatment, prevention, and research across departments and counties. Key provisions include requiring an annual statewide Master Plan for services, reviewing county plans, distributing grants to localities, and creating a centralized treatment resource database. The office directly affects state agencies, counties, and treatment providers by centralizing coordination and funding recommendations for substance use disorder services.

Topics ✓ Budget & Taxes ✓ Healthcare

Sub-Topics Substance Abuse

in committee · New Jersey · Senate Mar 16, 2026

S 445: Requires DHS and DOH, respectively, to provide information to SNAP, WFNJ, and WIC recipients regarding card skimming, cloning, and similar fraudulent activities and to replace stolen benefits; makes appropriation.

This bill requires New Jersey's Department of Human Services (DHS) and Department of Health (DOH) to provide SNAP, WFNJ, and WIC recipients with clear information about card skimming, cloning, and fraud prevention. It mandates that DHS and DOH distribute written materials at enrollment/recertification points, post digital/paper resources online and at offices, and establish processes to replace benefits stolen through these fraud methods using federal or state funds. The bill also directs both departments to coordinate with card vendors to implement security measures like chip technology and transaction alerts. Recipients must report fraud to DHS/DOH or law enforcement, with annual reports tracking fraud incidents and benefit replacements.

Topics ✓ Budget & Taxes ✓ Technology

Sub-Topics Appropriations

in committee · New Jersey · Senate Jan 13, 2026

S 1875: Excludes military compensation of military personnel serving outside of this State from gross income tax.

S 1875 exempts specific military compensation from New Jersey's state income tax for New Jersey residents serving outside the state. It directly affects New Jersey-domiciled military personnel stationed in other states or overseas by excluding their active-duty pay, mustering-out payments, and housing allowances from taxable income. The bill amends New Jersey tax law (N.J.S.54A:6-7) to create this exclusion for service performed outside New Jersey. This policy change provides tax relief to military members who maintain New Jersey residency while serving in other locations.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Income Tax Military Families

in committee · New Jersey · Senate Jan 13, 2026

S 2423: Exempts certain veterans from gross income tax.

This bill exempts qualifying veterans from New Jersey's state income tax. To qualify, veterans must have an honorable military discharge (from active duty in U.S. Armed Forces, reserve, or New Jersey National Guard in federal status) and earn $50,000 or less in gross income annually. The exemption applies to taxable years starting January 1 after the bill takes effect. It directly affects low-income veterans who meet the service and income criteria. The bill modifies New Jersey's Gross Income Tax Act to provide this specific tax relief.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Income Tax Veteran Benefits Veteran Education Veteran Employment

in committee · New Jersey · Senate Jan 13, 2026

S 892: Provides CBT and gross income tax credits for replacement of abandoned commercial building with new commercial building.

This bill provides tax credits to commercial property owners who demolish abandoned buildings (over 100,000 sq ft) and replace them with new commercial structures on the same site. It offers a credit equal to 25% of redevelopment costs, capped at $500,000 per project, with a total state-wide limit of $5 million across all projects. To qualify, owners must apply to the Division of Taxation for certification showing demolition and construction occurred, and the credit can be carried forward if not fully used in one tax year. The credit applies against both the state's privilege tax and gross income tax, aiming to incentivize revitalizing vacant commercial properties.

Topics ✓ Budget & Taxes

Sub-Topics Business Taxes Income Tax Tax Incentives

in committee · New Jersey · Senate Jan 13, 2026

S 3024: Changes certain allocations and amounts of constitutionally dedicated CBT revenues for Fiscal Year 2026 and thereafter; authorizes Garden State Preservation Trust and local governments to acquire lands in urban areas for agricultural or horticultural purposes.

S 3024 redirects state tax revenues for fiscal year 2026 and beyond to fund specific land preservation programs. It establishes a new "Preserve New Jersey Urban Agriculture and Horticulture Fund" that will receive 5% of dedicated funds annually (plus a $25 million one-time deposit) to help Garden State Preservation Trust and local governments acquire urban lands for farming or gardening. The bill changes allocation percentages from previous law, increasing funding for farmland preservation (26% vs. 31% under current law) and creating the dedicated urban fund. This directly affects local governments and the Garden State Preservation Trust, which must review annual funding allocations for conservation, farmland, and historic preservation programs. The policy focuses on supporting urban agricultural access through land acquisition, not new taxes or regulations.

Topics ✓ Budget & Taxes ✓ Environment

Sub-Topics Conservation

in committee · New Jersey · Senate Jan 28, 2026

SCR 74: Proposes constitutional amendment to limit assessment of homestead real property, and allow exemption on up to $50,000 of home's value.

SCR 74 proposes a constitutional amendment to provide property tax relief for New Jersey homeowners. If approved by voters, it would limit annual increases in the assessed value of a primary residence (homestead property) to the lower of 3% or the Consumer Price Index. It would also require a full tax exemption on the first $25,000 of a home's assessed value and an exemption from non-school property taxes on the next $25,000, resulting in tax relief on up to $50,000 of a home's value. This amendment would apply to all homeowners who live in their property as their main residence.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax Tax Incentives

in committee · New Jersey · Senate Jan 13, 2026

S 623: Prohibits sale and use of certain gas-powered leaf blowers; provides CBT credit for purchase of electric leaf blower that replaces gas-powered leaf blower.

S 623 bans the sale and use of gas-powered leaf blowers with two-stroke engines after two years and restricts four-stroke models in residential areas after four years, allowing limited non-residential use only during March 15-May 15 and October 15-December 15. It exempts gas blowers used for pest management applications and imposes penalties: $500-$1,000 for businesses and $25 for individuals for violations. The bill also creates a 50% tax credit (up to 50% of purchase cost, including batteries) for homeowners and businesses replacing gas blowers with electric models, valid for five years after the bill’s effective date. This directly affects residents, property managers, and landscaping businesses operating in New Jersey.

Topics ✓ Budget & Taxes ✓ Energy ✓ Environment

Sub-Topics Tax Credits

in committee · New Jersey · Senate Jan 13, 2026

S 2535: Restricts authorization of new debt by State Treasurer.

This bill creates the "New Jersey Debt Defeasance and Prevention Fund" within the state's General Fund. It requires the State Treasurer to use unexpended balances in this fund to pay off existing high-interest state debt before authorizing new appropriations-backed bonds. The Treasurer may only issue new debt if the fund has no available balance or if the new debt's interest costs are lower than what could be saved by retiring existing debt with the fund. The bill also mandates that the Treasurer immediately notify the Budget Oversight Committee whenever new debt is authorized while the fund holds unspent money. This directly affects how New Jersey manages its debt issuance and repayment processes.

Topics ✓ Budget & Taxes

Sub-Topics Debt & Bonds State Budget

All budget & taxes bills