Bill
Bill > S1519
NJ S1519
NJ S1519Allows gross income deduction for all wage income received by high school and college graduates during two consecutive taxable years following graduation from in-State school.
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 gross income tax deduction for recent high school and college graduates during two consecutive taxable years following graduation from an in-State school. Specifically, the bill allows a deduction for all salaries, wages, and other remuneration received for services rendered by a taxpayer during the two consecutive taxable years immediately following the taxpayer's graduation from a public or nonpublic high school located in New Jersey or a bachelor's degree program from a public or private institution of higher education located in New Jersey. To qualify for the deduction, a taxpayer is required to reside in New Jersey for the entire taxable year for which the deduction is claimed.Under the bill, a taxpayer may claim the deduction on multiple occasions, including after the taxpayer's graduation from both high school and university.
AI Summary
This bill allows New Jersey residents to deduct all their wage income from state income taxes for two consecutive taxable years after graduating from a high school or college located in New Jersey, provided they remain a resident for the entire tax year. This deduction, which applies to salaries and other earnings for work performed, can be claimed after graduating from high school, after graduating from college, or even after graduating from both. The bill defines "graduation" as the official awarding of a diploma or bachelor's degree, and clarifies what constitutes "private" and "public" institutions of higher education within the state.
Committee Categories
Budget and Finance
Sponsors (1)
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/S1519 |
| BillText | https://pub.njleg.gov/Bills/2026/S2000/1519_I1.HTM |
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