New Jersey S 2413: Makes supplemental appropriations totaling $9,563,415 to DOH for grants of $7,765,325 to Newark Beth Israel Hospital and $1,798,090 to St. Francis Medical Center to implement improved health outcomes and sustainable transformation of healthcare delivery.

Bill Text

S2413 

SENATE, No. 2413 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

PRE-FILED FOR INTRODUCTION IN THE 2026 SESSION

Sponsored by:

Senator ANTHONY M. BUCCO

District 25 (Morris and Passaic)

Senator PAUL A. SARLO

District 36 (Bergen and Passaic)

Co-Sponsored by:

Senators Diegnan and Space

SYNOPSIS

���� Indexes various thresholds and qualifications under 
New Jersey gross income tax for inflation.

CURRENT VERSION OF TEXT 

���� Introduced Pending Technical Review by Legislative 
Counsel.

��

An Act indexing for inflation various gross income tax 
thresholds and qualifications, amending various parts of the statutory law.

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

���� 1.��� N.J.S.54A:2-4 is amended 
to read as follows:

���� 54A:2-4.� Minimum taxable 
income.� Notwithstanding any other provisions of this act, a taxpayer shall not 
be subject to tax under this act if:

���� a.���� The taxpayer is filing 
as an unmarried individual, an estate or trust, with a gross income of

���� (1)�� $3,000 or less for 
taxable years beginning before January 1, 1994,

���� (2)�� $7,500 or less for 
taxable years beginning on or after January 1, 1994 but before January 1, 1999, 
and

���� (3)�� $10,000 or less for 
taxable years beginning on or after January 1, 1999; 

���� b.��� The taxpayer is 
determining tax pursuant to subsection a. of N.J.S.54A:2-1, or is a married 
couple filing a joint return, with a gross income of

���� (1)�� $3,000 or less for 
taxable years beginning before January 1, 1994,

���� (2)�� $7,500 or less for 
taxable years beginning on or after January 1, 1994 but before January 1, 1999,

���� (3)�� $10,000 or less for 
taxable years beginning on or after January 1, 1999 but before January 1, 2000,

���� (4)�� $15,000 or less for 
taxable years beginning on or after January 1, 2000 but before January 1, 2001, 
and

���� (5)�� $20,000 or less for 
taxable years beginning on or after January 1, 2001; or

���� c.���� The taxpayer is a 
married person filing separately with a gross income of

���� (1)�� $1,500 or less for 
taxable years beginning before January 1, 1994,

���� (2)�� $3,750 or less for 
taxable years beginning on or after January 1, 1994 but before January 1, 1999,

���� (3)�� $5,000 or less for 
taxable years beginning on or after January 1, 1999 but before January 1, 2000,

���� (4)�� $7,500 or less for 
taxable years beginning on or after January 1, 2000 but before January 1, 2001, 
and

���� (5)�� $10,000 or less for 
taxable years beginning on or after January 1, 2001.

���� In the case of a nonresident, 
gross income shall mean gross income which such nonresident would have reported 
if he had been a resident.

���� Beginning with taxable year 
2022, the director shall annually adjust the gross income threshold provided 
for in this section to account for an increase in the cost of living. The 
accounting of the increase in the cost of living shall be determined by using 
the percentage that the Consumer Price Index for All Urban Consumers (CPI-U) 
published by the United States Department of Labor as of the close of the 
12-month period ending on August 31 of the calendar year prior to the calendar 
year in which the taxable year begins, exceeds that index as of the close of 
the 12-month period ending on August 31 of the preceding calendar year. Notwithstanding 
the gross income threshold provided for in this section, each taxpayer shall 
use the adjusted gross income threshold as adjusted by the director for the 
applicable taxable year. The director shall round the adjusted gross income 
threshold to the closest multiple of $5.

(cf: P.L.1999, c.260, s.1)

���� 2.��� Section 3 of P.L.2021, 
c128 (C.54A:3-12) is amended to read as follows:

���� 3.��� A taxpayer with gross 
income of $200,000 or less shall be allowed a deduction, not to exceed $10,000, 
from the taxpayer's gross income for the taxable year in the amount of the 
taxpayer's contribution for the taxable year to an account established pursuant 
to the "New Jersey Better Educational Savings Trust Program," 
(N.J.S.18A:71B-35 et seq.). 

���� Beginning with taxable year 
2022, the director shall annually adjust the gross income qualification 
provided for in this section to account for an increase in the cost of living. 
The accounting of the increase in the cost of living shall be determined by 
using the percentage that the Consumer Price Index for All Urban Consumers 
(CPI-U) published by the United States Department of Labor as of the close of 
the 12-month period ending on August 31 of the calendar year prior to the 
calendar year in which the taxable year begins, exceeds that index as of the 
close of the 12-month period ending on August 31 of the preceding calendar year. 
Notwithstanding the gross income qualification provided for in this section, 
each taxpayer shall use the adjusted gross income qualification as adjusted by 
the director for the applicable ta