Establishes a 90-day tax amnesty period in New Jersey, dedicating collected revenues for Stabilization Aid to school districts.
The bill establishes a 90-day tax amnesty period in New Jersey, ending no later than January 15, 2026. During this period, taxpayers can pay their overdue state taxes, reduced interest, and applicable penalties without facing additional penalties. The amnesty applies to state tax liabilities for returns due between September 1, 2017, and January 1, 2025. Revenues collected during the amnesty period are dedicated for Stabilization Aid to school districts experiencing a reduction in state aid.
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