Budget & Taxes in New Jersey

in committee · New Jersey · Senate Jun 26, 2026

S 4521: Provides CBT and gross income tax credits for construction or expansion of certain meat processing facilities.

This bill offers tax credits to businesses in New Jersey that build or expand rural meat processing facilities. To qualify, projects must include specific equipment like smokehouses, sausage lines, packaging areas, or cold storage units and work with regional agricultural centers to support local supply chains. Eligible companies can receive a credit equal to 20% of their project costs, or 30% if they include the required specialized equipment, with a maximum cap of $5 million per project. The total amount of credits available under this program is limited to $50 million, and unused credits can be carried forward for up to four years. Additionally, the state will require a report five years after the law takes effect to evaluate how well the program encourages new facility construction.

Topics ✓ Budget & Taxes

Sub-Topics Income Tax

signed · New Jersey · Senate Jul 30, 2026

S 4424: 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 directs approximately $15.5 million from dedicated corporation business tax revenues to the Department of Environmental Protection for land conservation and recreation projects. The funds will provide grants to nonprofit organizations to purchase or develop land for open space, with specific allocations for land acquisition, park development, and stewardship activities. Additionally, the legislation allows the department to use leftover money from canceled projects to provide extra funding to previously approved initiatives, subject to oversight committee approval.

Topics ✓ Budget & Taxes ✓ Environment

Sub-Topics Business Taxes Conservation Parks & Recreation

in committee · New Jersey · General Assembly Jun 28, 2026

A 5280: Requires return of unexpended balances from certain FY2023, FY2024, and FY2025 appropriations to Hudson County; authorizes supplemental appropriation to Hudson County for general operating aid.

This bill requires Hudson County to return up to $28.1 million in unspent state funds from fiscal years 2023 through 2025, which were originally allocated for jail operations and correctional facility renovations. The county must transfer these unexpended balances to the State Treasurer by June 30, 2026, for deposit into the Property Tax Relief Fund. In exchange for returning the money, the bill authorizes the state to provide a supplemental appropriation of up to $28.1 million to Hudson County as general operating aid. The total amount of this new aid cannot exceed the sum of the unspent funds returned by the county and is subject to approval by the Director of the Division of Budget and Accounting.

Topics ✓ Budget & Taxes

Sub-Topics Appropriations Property Tax

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 & Taxes

Sub-Topics Appropriations State Budget

in committee · New Jersey · General Assembly Jun 23, 2026

A 5319: Eliminates fee on electronic transfer of funds into incarcerated persons' accounts; makes appropriation.

This bill requires the New Jersey Department of Corrections and the Youth Justice Commission to stop charging fees when families send money electronically to incarcerated individuals and youth. It mandates that all correctional facilities, including private ones, allow deposits through online platforms, mobile apps, or phone calls without transaction costs. To fund this change, the legislation authorizes the state to provide necessary money from the General Fund to both agencies. The rules must apply uniformly across all facilities in the state, and the law will take effect thirteen months after being passed.

Topics ✓ Budget & Taxes ✓ Criminal Justice ✓ Technology

Sub-Topics Appropriations State Budget Corrections

in committee · New Jersey · Senate Jun 26, 2026

S 4520: Establishes Jersey Protein Pro pilot program; appropriates $3 million.

This bill creates a three-year pilot program called Jersey Protein Pro to train New Jersey residents for jobs in the meat processing industry, aiming to solve local labor shortages that currently force farmers to ship livestock out of state. The Department of Labor and Workforce Development will administer the program by awarding grants to county colleges and vocational schools to offer short-term courses in meat cutting, food safety, sanitation, and plant maintenance. Participating schools can use the $3 million appropriation to develop curricula and provide tuition assistance to students who agree to stay employed in the state for at least two years after finishing their training. The bill also requires regular reporting on how the funds are used and includes a final evaluation to determine if the program should be made permanent.

Topics ✓ Budget & Taxes ✓ Education ✓ Labor & Employment

Sub-Topics Appropriations Higher Education Student Financial Aid Workforce Development

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

A 5220: Permits municipalities to waive interest on certain delinquent property tax payments delivered after required due date.

This bill allows New Jersey municipalities to waive interest charges on property tax payments that are submitted after the due date. It achieves this by amending state law to give local governments the authority to set specific rules for when interest is forgiven, particularly for taxpayers affected by natural disasters or federal government shutdowns. Under the new provisions, local officials must pass a resolution to grant these waivers, and in cases involving state supervision, the state director must approve the decision. The measure directly impacts homeowners and other property owners who face delays in paying their taxes due to circumstances beyond their control.

Topics ✓ Budget & Taxes

Sub-Topics Property Tax

in committee · New Jersey · Senate Jun 26, 2026

S 4522: Establishes State school aid category to support certain school districts located in municipalities that are part of Highlands or Pinelands preservation areas.

This bill creates a new state funding category to provide additional financial support to specific school districts located in municipalities within New Jersey's Highlands or Pinelands preservation areas. To qualify for this aid, a school district must have experienced a net loss in state funding under previous legislation, have a resident enrollment of at least 500 students, and be situated in a municipality where at least 10 percent of the land is designated for preservation. The amount of additional funding a district receives is calculated by multiplying $250 by the number of preserved acres in its municipality, subject to annual caps of $2.5 million for districts with fewer than 1,000 students and $5 million for those with more.

Topics ✓ Budget & Taxes ✓ Education ✓ Environment

Sub-Topics Conservation

in committee · New Jersey · General Assembly Jun 15, 2026

A 5252: Establishes "New Jersey Earn and Learn Program;" provides tax credits for employers providing structured apprenticeships and paid internships.

This bill creates the New Jersey Earn and Learn Program to encourage employers to hire individuals into structured apprenticeships and paid internships that lead to permanent employment. Under the program, businesses can receive tax credits against state taxes of $3,000 for each enrollee, with additional $1,000 credits available for hiring from underrepresented groups or for retaining workers who complete their training and stay employed for six months. The Department of Labor and Workforce Development will manage the program, certify eligible employers, and ensure that participants receive combined classroom and on-the-job training or supervised practical experience. The total tax credit an employer can claim in a single year is capped at $500,000, and the program is designed to run for a three-year period per individual participant.

Topics ✓ Budget & Taxes ✓ Education ✓ Labor & Employment

Sub-Topics Tax Credits Apprenticeships Workforce Development

in committee · New Jersey · Senate Jun 4, 2026

S 4410: 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.

Topics ✓ Budget & Taxes ✓ Energy

Sub-Topics Income Tax Sales Tax

All budget & taxes bills