Bill

Bill > S1478


NJ S1478

NJ S1478
Establishes a gross income tax credit for attendance at New Jersey county colleges.


summary

Introduced
02/10/2022
In Committee
02/10/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill encourages greater opportunities for attendance at county colleges by establishing a $750 gross income tax credit for payment of tuition and maintenance costs for full time attendance, and a $375 credit for part-time attendance, at a New Jersey county college paid by a taxpayer either for a dependent under 22 years of age or for the taxpayer's own attendance at a county college. These tax credits provide tax savings that can be used to finance a significant portion of a county college student's tuition. The county community college system, comprised of 19 institutions, provides access to higher education for a broad range of New Jersey residents who might otherwise be denied the benefits of a college education. This tax credit can provide a substantial financial subsidy for those taxpayers who are pursuing this gateway to a post-secondary education for themselves or their dependents.

AI Summary

This bill establishes a $750 gross income tax credit for full-time attendance and a $375 credit for part-time attendance (at least 6 credits per semester) at a New Jersey county college. The credit can be claimed by a taxpayer either for a dependent under 22 years old or for the taxpayer's own attendance. This tax credit is designed to encourage greater opportunities for attendance at the 19 New Jersey county community colleges, which provide access to higher education for a broad range of residents who might otherwise be denied the benefits of a college education. The tax credit can provide a substantial financial subsidy for those pursuing post-secondary education.

Committee Categories

Education

Sponsors (1)

Last Action

Introduced in the Senate, Referred to Senate Higher Education Committee (on 02/10/2022)

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