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S.2925

Improves management and administration of New Jersey Better Education Savings Trust program; establishes grants and additional tax incentives for New Jersey Better Education Savings and Trust account contributions; creates New Jersey Better Education Savings and Trust Advisory Council.

Introduced·3/7/24
Introduced Text

Enhances New Jersey Better Education Savings Trust program with grants, tax incentives, and an advisory council.

This bill improves the New Jersey Better Education Savings Trust (NJBEST) program by establishing grants and additional tax incentives for NJBEST account contributions. It creates the New Jersey Better Education Savings and Trust Advisory Council to advise on program improvements and monitor its impact on college affordability. The council will consist of 13 members, including representatives from the Higher Education Student Assistance Authority, the Department of Banking and Insurance, and the Governor's office.

Included in complete analysis

  • Overview
  • Core Provisions
  • Implementation
  • Impact
  • Legal Framework
  • Critical Issues

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Where it stands

Current
Higher Eduction Committee
Next
Session adjourned — paused until it reconvenes

Sponsors

D
1
1
R
Democratic CaucusRepublican Caucus

History

Mar 7, 2024

Senate

Introduced in the Senate, Referred to Senate Higher Education Committee