New Jersey S 4447: Allows dog owners to procure identification cards for guide or service dogs; appropriates $100,000.

Bill Text

S4447 SCS 

SENATE COMMITTEE SUBSTITUTE FOR

SENATE, No. 4447

STATE OF NEW JERSEY

222nd LEGISLATURE

� ADOPTED 
JUNE 28, 2026

Sponsored by:

Senator� NICHOLAS P. SCUTARI

District 22 (Somerset and Union)

Senator� PAUL A. SARLO

District 36 (Bergen and Passaic)

SYNOPSIS

���� Establishes surtax on certain incomes derived from 
operation of prediction markets. 

CURRENT VERSION OF TEXT 

���� Substitute as adopted by the Senate Budget and 
Appropriations Committee.

An Act concerning a surtax on certain incomes derived 
from the operation of prediction markets and supplementing P.L.1945, c.162 
(C.54:10A-1 et seq.) and N.J.S.54A:1-1 et seq.

���� Be It Enacted by the Senate and General Assembly of the State of New Jersey:

���� 1.��� a.� In addition to the 
tax paid by each prediction market operator determined pursuant to section 5 of 
P.L.1945, c.162 (C.54:10A-5), each prediction market operator, for privilege 
periods beginning on and after July 1, 2025, shall be assessed and shall pay a 
surtax of 9 percent on allocated taxable net income.� The surtax shall be due 
and payable in accordance with section 15 of P.L.1945, c.162 (C.54:10A-15), and 
the surtax shall be administered pursuant to the provisions of P.L.1945, c.162 
(C.54:10A-1 et seq.).� Notwithstanding the provisions of any other law to the 
contrary, no credits shall be allowed against the surtax liability computed 
under this section except for credits for installment payments, estimated 
payments made with a request for an extension of time for filing a return, or 
overpayments from prior privilege periods.

���� b.��� For purposes of this 
section:

���� �Allocated taxable net income� 
shall mean taxable net income as defined in subsection (w) of section 4 of 
P.L.1945, c.162 (C.54:10A-4). 

���� �Bid-ask format� means a 
format in which parties submit offers to buy positions at a specific price or 
range of prices and offers to sell positions at a specific price or range of 
prices, with market prices determined through the matching of these offers.

���� �Combined group� shall mean a 
combined group as defined in subsection (z) of section 4 of P.L.1945, c.162 
(C.54:10A-4).

���� �Future events� means the 
outcome or occurrence of: a federal, state, or local election; events in 
popular culture, including but not limited to awards and the date a piece of 
entertainment will be released; an athletic event or game of skill, or portions 
thereof or individual performance statistics therein; any game played with 
cards, dice, equipment, or any mechanical or electronic device machine; or 
legal actions, including but not limited to a civil or criminal suit, grand 
jury proceeding, jury trial, settlement, plea deal, or conviction.

���� �Prediction market� means any 
physical or electronic system that allows participants to open a speculative 
position on the outcome of future events, in a bid-ask format, and in any other 
form regardless of the mechanisms or structures used for opening speculative 
positions on future events. 

���� �Prediction market operator� 
means a board of trade or other person, including any affiliate of the person, 
that operates a prediction market, including but not limited to, a person that 
owns, operates, or controls a digital distribution service, digital distribution 
platform, online portal, or application store where a prediction market may be 
accessed.� A prediction market operator includes any business entity or 
combined group that is subject to tax as provided in the Corporation Business 
Tax Act (1945), P.L.1945, c.162 (C.54:10A-1 et seq).

���� �Speculative position� means a 
financial commitment made by a participant in a prediction market.

���� 2.��� a.� In addition to the 
tax paid by a taxpayer from income derived from the operation of a prediction 
market operator under the �New Jersey Gross Income Tax Act,� N.J.S.54A:1-1 et 
seq., each taxpayer, for taxable years beginning on and after January 1, 2026, 
shall be assessed and shall pay a surtax of 9 percent on the gross income 
received during the taxpayer�s taxable year derived from the operation of a 
prediction market operator.� The surtax shall be due and payable in accordance 
chapter 8 of Title 54A of the Revised Statutes, and the surtax shall be 
administered pursuant to the provisions of the �New Jersey Gross Income Tax 
Act,� N.J.S.54A:1-1 et seq.� Notwithstanding the provisions of any other law to 
the contrary, no credits shall be allowed against the surtax liability computed 
under this section except for credits for installment payments, estimated 
payments made with a request for an extension of time for filing a return, or 
overpayments from prior taxable years.

���� b.��� For purposes of this 
section:

���� �Bid-ask format� means a 
format in which parties submit offers to buy positions at a specific price or 
range of prices and offers to sell positions at a specific price or range of 
prices, with market prices determined th