Bill Text: NJ A2161 | 2020-2021 | Regular Session | Amended

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Bill Title: Allows NJ gross income tax deduction for charitable contributions of food made from business inventory.

Spectrum: Slight Partisan Bill (Democrat 6-2)

Status: (Introduced - Dead) 2020-10-19 - Reported out of Asm. Comm. with Amendments, and Referred to Assembly Appropriations Committee [A2161 Detail]

Download: New_Jersey-2020-A2161-Amended.html

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[First Reprint]

ASSEMBLY, No. 2161

STATE OF NEW JERSEY

219th LEGISLATURE

 

PRE-FILED FOR INTRODUCTION IN THE 2020 SESSION

 

 

Sponsored by:

Assemblyman  RAJ MUKHERJI

District 33 (Hudson)

Assemblyman  DANIEL R. BENSON

District 14 (Mercer and Middlesex)

Assemblyman  JAY WEBBER

District 26 (Essex, Morris and Passaic)

 

Co-Sponsored by:

Assemblywoman Chaparro, Assemblyman Verrelli, Assemblywoman Quijano and Assemblyman Danielsen

 

 

 

 

SYNOPSIS

     Allows NJ gross income tax deduction for charitable contributions of food made from business inventory.

 

CURRENT VERSION OF TEXT

     As reported by the Assembly Consumer Affairs Committee on October 19, 2020, with amendments.

  

An Act allowing a charitable contribution tax deduction under the New Jersey gross income tax for contributions of food made from business inventory 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 shall be allowed to deduct from gross income the amount of charitable contributions of food made ¹to and accepted by an organization¹ in the taxable year equal to the amount which would have been allowed to the taxpayer for the federal taxable year under the provisions of paragraph (3) of subsection (e) of section 170 of the federal Internal Revenue Code (26 U.S.C. s.170) in effect on December 31, 2013.

 

     2.    This act shall take effect immediately and apply to taxable years beginning on or after the January 1 next following enactment.