Bill

Bill > A3955


NJ A3955

NJ A3955
Provides one-time deduction of $10,000 for certain taxpayers under GIT.


summary

Introduced
04/13/2020
In Committee
04/13/2020
Crossed Over
Passed
Dead
01/11/2022

Introduced Session

2020-2021 Regular Session

Bill Summary

This bill provides a one-time deduction of $10,000 from gross income that can be claimed in addition to other deductions. This deduction applies to households and joint filers earning under $250,000 and single filers earning under $125,000. The purpose of the bill is to provide relief in the wake of the COVID-19 pandemic.

AI Summary

This bill provides a one-time $10,000 deduction from gross income for the 2020 tax year. The deduction applies to households and joint filers earning under $250,000, and single filers earning under $125,000. The purpose of the bill is to provide financial relief in the wake of the COVID-19 pandemic.

Committee Categories

Budget and Finance

Sponsors (3)

Last Action

Introduced, Referred to Assembly Appropriations Committee (on 04/13/2020)

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