SENATE, No. 2277

STATE OF NEW JERSEY

219th LEGISLATURE

INTRODUCED MARCH 19, 2020

Sponsored by:

Senator  JAMES BEACH

District 6 (Burlington and Camden)

SYNOPSIS

     Allows a gross income tax deduction for certain higher education tuition and fee expenses.

CURRENT VERSION OF TEXT

     As introduced.

An Act allowing a deduction under the gross income tax for certain tuition expenses and supplementing chapter 3 of Title 54A of the New Jersey Statutes.

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

     1.    A taxpayer with gross income for the taxable year of $85,000 or less shall be allowed to deduct from gross income amounts paid by the taxpayer during the taxable year for tuition and fee expenses for the taxpayer, the taxpayer's spouse and the taxpayer's dependents as a matriculated student at a public or independent institution of higher education accredited by a nationally recognized accrediting agency or association which has been recognized by the United States Secretary of Education for the award of such status.

     2.    This act shall take effect immediately and apply to taxable years commencing after the date of enactment.

STATEMENT

     This bill allows taxpayers who have annual gross income of $85,000 or less to deduct certain higher education tuition and fee expenses paid during the taxable year.  The bill allows the deduction for higher education tuition and fee expenses paid on account of the status of the taxpayer, the taxpayer's spouse and the taxpayer's dependents as a matriculated student at an accredited higher education institution.