NJ A2680

Bill

Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.

Introduced
01/13/2026

In Committee
01/13/2026

Crossed Over

Passed

Dead

Introduced Session

2026-2027 Regular Session

Bill Summary

This bill increases tax relief under the New Jersey gross income tax for residential tenants. The bill provides income tax relief for tenants by increasing, from 18 percent to 30 percent, the amount of rent defined as "rent constituting property taxes". The bill also changes the gross income tax deduction for residential tenants to a refundable gross income tax credit of up to $15,000 for "rent constituting property taxes." Increasing the cap on the amount of rental payments defined as "rent constituting property taxes" and allowing that amount to be a refundable tax credit of up to $15,000 will reduce residential tenants' tax burdens.

AI Summary

This bill increases tax relief for residential tenants in New Jersey by changing how "rent constituting property taxes" is calculated and by converting the existing deduction into a refundable tax credit. Specifically, the bill increases the percentage of rent that is considered to represent property taxes from 18% to 30%, meaning a larger portion of rent paid can now be used to calculate tax relief. Furthermore, instead of a deduction from gross income, tenants will now receive a refundable gross income tax credit, which can be up to $15,000, for this "rent constituting property taxes." A refundable tax credit means that if the credit amount exceeds the tax owed, the taxpayer will receive the difference back as a refund, offering more direct financial benefit. This change aims to reduce the overall tax burden on residential tenants.

Committee Categories

Housing and Urban Affairs

Sponsors (1)

Chris DePhillips (R)*,

Last Action

Introduced, Referred to Assembly Housing Committee (on 01/13/2026)

Official Document

https://www.njleg.state.nj.us/bill-search/2026/A2680

(3 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://www.njleg.state.nj.us/bill-search/2026/A2680
BillText	https://pub.njleg.gov/Bills/2026/A3000/2680_I1.HTM

Bill	Bill Name	Last Action	Type
A1358	Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.	Introduced, Referred to Assembly Housing Committee	Carry Over
S182	Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.	Introduced in the Senate, Referred to Senate Budget and Appropriations Committee	Carry Over
S2025	Increases gross income tax relief based on rent constituting property taxes for residential tenants and establishes refundable gross income tax credit in place of gross income tax deduction for residential tenants.	Introduced in the Senate, Referred to Senate Budget and Appropriations Committee	Same As

Bill > A2680

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary