Bill
Bill > S983
NJ S983
NJ S983Allows credit against gross income tax for certain eligible taxpayers pursuing education and employment in State.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill provides a nonrefundable gross income tax credit in the amount of $1,500 to resident New Jersey taxpayers who graduate from a New Jersey public or private high school and a New Jersey institute of higher education with a grade point average of 3.5 or higher and who are employed as full time employees working more than 25 hours per week for a New Jersey employer within two years following graduation from a New Jersey institution of higher education. The bill's gross income tax credit is intended to create an incentive for individuals who graduate from a New Jersey high school to pursue their undergraduate degree in New Jersey and subsequently remain in the State and contribute to the New Jersey economy. The bill provides that an institute of higher education in New Jersey is any public or private not for profit university. Additionally, to graduate from a New Jersey institution of higher graduation means to receive an undergraduate degree. Finally, the taxpayer is eligible to claim this credit during the first five consecutive tax years so long as the employee fulfills the requirements of this bill in each of the tax years that the credit is claimed.
AI Summary
This bill establishes a nonrefundable gross income tax credit of $1,500 for New Jersey resident taxpayers who graduate from both a New Jersey high school and a New Jersey institution of higher education (defined as a public or private not-for-profit university) with a grade point average of 3.5 or higher, and who then secure full-time employment (working more than 25 hours per week) with a New Jersey employer within two years of their college graduation. This credit, intended to encourage graduates to stay and contribute to the New Jersey economy, can be claimed for the first five consecutive tax years, provided the taxpayer continues to meet the employment requirements each year.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Economic Growth Committee (on 01/13/2026)
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/2026/S983 |
| BillText | https://pub.njleg.gov/Bills/2026/S1000/983_I1.HTM |
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