Bill
Bill > A355
NJ A355
NJ A355Provides gross income tax credit for donations to eligible schools to assist in funding of student meals, medical supplies, and playground equipment.
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 a nonrefundable gross income tax credit for qualified donations to eligible schools. The tax credit amount is equal to 10 percent of the value of the qualified donations, and is capped at $500 per taxable year. Under the bill, "qualified donation" means a donation made to an eligible school for one or more of the following purposes: funding for student participation in a free or reduced meal program at the eligible school; the purchase of medical supplies to be used for the treatment of students at the eligible school; and the purchase of playground equipment, including accompanying shade structures, for use at the eligible school. The bill defines "eligible school" as a public or nonpublic elementary or secondary school in this State.
AI Summary
This bill allows individuals to receive a nonrefundable gross income tax credit, meaning it can reduce their tax bill but won't result in a refund if the credit exceeds their tax liability, for donations made to eligible schools in New Jersey. The credit is equal to 10 percent of the donation's value, with a maximum of $500 per year. A "qualified donation" is defined as money given to an eligible school specifically to fund student participation in free or reduced-price meal programs, purchase medical supplies for student treatment, or buy playground equipment, including shade structures. An "eligible school" is any public or private elementary or secondary school located within the state. To claim this credit, taxpayers must obtain a written statement from the school detailing the donation amount, taxpayer information, and school information, and then submit a copy of this statement with their tax return. This provision applies to tax years beginning on or after January 1, 2022.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development 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/A355 |
| BillText | https://pub.njleg.gov/Bills/2026/A0500/355_I1.HTM |
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