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Bill > S1317
NJ S1317
NJ S1317Provides gross income tax deductions for membership fees, dam project assessments, and potable water system project assessments paid to lake associations.
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 gross income tax deductions for individuals who pay membership fees, dam project assessments, or potable water system assessments to lake associations in New Jersey. This bill is effective immediately and applies to all taxable years beginning on or after January 1 next following enactment.
AI Summary
This bill allows New Jersey taxpayers to deduct certain payments made to lake associations from their gross income, meaning these amounts will not be subject to income tax. Specifically, individuals can deduct the total amount they paid during the year for membership fees, assessments to fund dam construction or repair projects, and assessments to fund the repair or construction of systems that provide safe drinking water. A "lake association" is defined as an organization of property owners in a specific New Jersey area who have rights to use private lakefront properties that are not open to the public, except for guests of members. This deduction applies to taxable years beginning on or after January 1 of the year following the bill's enactment.
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/S1317 |
| BillText | https://pub.njleg.gov/Bills/2026/S1500/1317_I1.HTM |
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