Bill Text: NJ A2411 | 2024-2025 | Regular Session | Introduced
Bill Title: Provides gross income tax credit of up to $500 to taxpayers who utilize high impact tutoring.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Education Committee [A2411 Detail]
Download: New_Jersey-2024-A2411-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman ERIK K. SIMONSEN
District 1 (Atlantic, Cape May and Cumberland)
SYNOPSIS
Provides gross income tax credit of up to $500 to taxpayers who utilize high impact tutoring.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act providing a gross income tax credit to taxpayers who utilize high impact tutoring and supplementing chapter 4 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. A qualified taxpayer shall be allowed a credit against the tax otherwise due for the taxable year pursuant to the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., in an amount equal to the service cost of a high impact tutor that shall not exceed $500 for a taxable year.
b. Tax credits shall be awarded for the taxable year during which the high impact tutor is utilized. In the case of married individuals filing a separate return, only one individual shall be permitted to claim the credit allowed pursuant to this section in a taxable year.
c. If the credit allowed pursuant to this section, together with any other payments, credits, deductions, and adjustments allowed by law, reduces a qualified taxpayer's tax liability otherwise due under N.J.S.54A:1-1 et seq. to zero, the amount of the credit remaining shall be paid to the taxpayer as a refund of an overpayment in accordance with N.J.S.54A:9-7; provided, however, that subsection (f) of that section, concerning the allowance of interest, shall not apply.
d. As used in this section:
"High-Impact Tutoring" means tutoring that has directly demonstrated significant gains in student learning through state-of-the-art research studies or tutoring that has characteristics proven to accelerate student learning.
2. This act shall take effect immediately.
STATEMENT
This bill allows taxpayers who utilize high impact tutoring a gross income tax credit of up to $500.
High-impact tutoring means tutoring that has directly demonstrated significant gains in student learning through state-of-the-art research studies or tutoring that has characteristics proven to accelerate student learning.
The gross income tax credit allowed under this bill may be claimed for the taxable year during which high impact tutoring is utilized. The bill also provides that the gross income tax credit is refundable if the taxpayer has no tax liability against which the credit may be applied. The tax payer will receive the remaining credit amount from the State in cash.
