Bill > A2753

Introduced Session

This bill allows gross income tax deductions for charitable contributions of food made in the tax year from business inventory, as allowed under paragraph (3) of subsection (e) of section 170 of the federal Internal Revenue Code of 1986. The deduction mirrors the federal income tax deduction for contributions of food made from business inventory and is allowed regardless of whether the federal itemized deduction is taken by the taxpayer. The deduction is an itemized deduction for charitable contributions of food, where "food" is "apparently wholesome food." Under federal law, "apparently wholesome food" means "food that meets all quality and labeling standards imposed by Federal, State, and local laws and regulations even though the food may not be readily marketable due to appearance, age, freshness, grade, size, surplus, or other conditions." The contribution must be made to an organization that is determined by the Internal Revenue Service to be an organization eligible to receive tax-deductible charitable contributions. This bill recognizes and rewards charitable contributions of food made to organizations that serve the underprivileged. Over 1 million people living in New Jersey lack consistent access to enough food for an active, healthy life for all household members, and have only limited or uncertain availability of nutritionally adequate foods. This new tax deduction will encourage philanthropic gifts of food to deserving organizations and help reduce the number of those who needlessly go hungry in this State.

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Committee Categories

Daniel Benson (D)*,  JoAnn Downey (D)*,  Raj Mukherji (D)*,  Declan O'Scanlon (R), 

Substituted by S3012 (on 01/08/2018)