S.3350

New Jersey S3350 establishes a gross income tax credit for full-time tuition costs at certain New Jersey post-secondary institutions.

New Jersey S3350 creates a gross income tax credit for full-time tuition costs at New Jersey institutions of higher education, county colleges, and accredited post-secondary training schools. The credit is equal to 10 percent of tuition costs, up to a maximum of $1,000, for taxpayers with a gross income not exceeding $150,000, either for the taxpayer or a dependent under 22 years of age. This bill aims to expand opportunities for New Jersey residents to pursue post-secondary education.