Bill > S1508

Introduced Session

This bill expands opportunities for New Jersey residents to pursue post-secondary education by establishing a gross income tax credit for the costs of full-time tuition at New Jersey institutions of higher education, county colleges and accredited post-secondary training schools. The tax credit is equal to 10 percent of tuition costs of up to $10,000 paid by a taxpayer with a gross income not exceeding $150,000 either for the taxpayer or a resident dependent under 22 years of age. Tuition and fees for New Jersey State college students exceed the national average by 26 percent. The College Board relates in its "Trends in College Pricing 2017" report that the national average cost of in-state tuition and fees at four-year public colleges is $9,970 for academic year 2017-2018. The New Jersey Secretary of Higher Education conveys that the equivalent average for New Jersey senior public colleges is $13,464. The State's 19 county community colleges provide access to higher education for many New Jersey residents who might otherwise be denied the benefits of a college education. Post-secondary business, technical, trade or vocational schools, on the other hand, allow the non-college bound to improve their occupational and economic chances by acquiring specialized skills.

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Shirley Turner (D)*, 

Introduced in the Senate, Referred to Senate Higher Education Committee (on 01/09/2024)

Official Document