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Bill > A5342
NJ A5342
NJ A5342Establishes tax credit for portion of qualifying educational expenditures made by taxpayer on behalf of child.
summary
Introduced
03/23/2023
03/23/2023
In Committee
03/23/2023
03/23/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Establishes tax credit for portion of qualifying educational expenditures made by taxpayer on behalf of child.
AI Summary
This bill establishes a tax credit equal to 25% of qualifying educational expenditures made by a taxpayer on behalf of a child, up to a maximum of $500 per child. Qualifying expenditures include tuition at accredited non-public schools, school supplies, instructional materials, annual fees, transportation, extracurricular activity fees, and certain music-related expenses. The bill applies to taxable years beginning on or after January 1, 2023.
Committee Categories
Education
Sponsors (2)
Last Action
Introduced, Referred to Assembly Education Committee (on 03/23/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A5342 |
| BillText | https://pub.njleg.gov/Bills/2022/A5500/5342_I1.HTM |
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