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Bill > S1769
NJ S1769
NJ S1769Allows small employers to claim tax credit for paying certain health benefits plan premiums.
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 allows taxpayers with fewer than 20 employees to claim a tax credit if they pay for their employees' health benefits plan premiums for a health benefits plan that is at least as comprehensive as the essential health benefits requirements of the federal Affordable Care Act. A taxpayer will be entitled to a credit up to $250 for each employee enrolled in a single plan and $500 for each employee enrolled in a family plan. The employer may only claim the full amount of the credit if the employer pays the full premiums. The bill provides a reduced credit if the employer pays at least half of the amount of the premium. The credit will also be reduced to account for employees that are not enrolled for the full taxable year.
AI Summary
This bill allows small employers, defined as those with fewer than 20 employees, to claim a tax credit for paying health benefits plan premiums for their employees, provided the plans meet or exceed the comprehensive coverage standards set by the federal Affordable Care Act. The credit amount varies based on the type of coverage and the employer's contribution, with a full credit of $250 per employee for single coverage and $500 per employee for family coverage if the employer pays the entire premium. If the employer pays at least half of the premium, a proportional credit is granted. The credit is also adjusted for employees not enrolled for the full year, and it cannot exceed the total amount paid by the employer for premiums. This credit applies to both corporate business taxes and individual gross income taxes, with limitations on the total credit that can be applied and no provision for carrying forward unused credit.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations 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/S1769 |
| BillText | https://pub.njleg.gov/Bills/2026/S2000/1769_I1.HTM |
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