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Bill > A4434
NJ A4434
NJ A4434Increases gross income tax deduction available to veterans from $6,000 to $12,000.
summary
Introduced
02/19/2026
02/19/2026
In Committee
02/19/2026
02/19/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill increases the gross income tax deduction available to veterans from $6,000 to $12,000. Currently, veterans who are honorably discharged or released under honorable circumstances from active duty in the Armed Forces of the United States, a reserve component, or the National Guard of New Jersey in a federal active duty status, are eligible to deduct $6,000 from their income for purposes of calculating their State gross income tax liability. This bill increases this deduction to $12,000 beginning in the taxable year next following the date of enactment.
AI Summary
This bill increases the gross income tax deduction available to veterans from $6,000 to $12,000, meaning eligible veterans will be able to subtract twice as much from their taxable income when calculating their state income tax. The bill applies to veterans who have been honorably discharged or released under honorable circumstances from active duty in the U.S. Armed Forces, its reserve components, or the New Jersey National Guard when in federal active duty status. This enhanced deduction will take effect for taxable years beginning on or after January 1st of the year following the bill's enactment.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Introduced, Referred to Assembly Appropriations Committee (on 02/19/2026)
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/A4434 |
| BillText | https://pub.njleg.gov/Bills/2026/A4500/4434_I1.HTM |
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