ASSEMBLY, No. 1531

STATE OF NEW JERSEY

INTRODUCED FEBRUARY 15, 1996

By Assemblyman CORODEMUS

An Act allowing a personal gross income tax exemption for certain taxpayers, amending P.L.1976, c.84.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. Section 1 of P.L.1976, c.84 (C.54A: 3-1.1) is amended to read as follows:

    1. In addition to the exemptions allowed under N.J.S.54A:3-1, each taxpayer shall be allowed an additional exemption which may be taken as a deduction from [his] the taxpayer’s New Jersey gross income in amount of $1,000.00 for each dependent or taxpayer under the age of 22 years who is attending an accredited post-secondary institution of higher education on a full time basis and for whom the taxpayer paid one-half or more of the costs of tuition and maintenance of the dependent's or taxpayer’s attendance at such institution.

(cf: P.L.1976, c.84, s.1.)

    2. This act shall take effect immediately and apply to tax years commencing on or after January 1 following enactment.

STATEMENT

    This bill would allow independent college students under the age of 22 to take the additional personal exemption of $1,000 on their New Jersey gross income tax returns. Currently, the exemption is only allowed for parents of dependent college students. College students who are working their way through school and not dependent upon their parents could use the help of this additional exemption.

Allows for additional personal exemptions for certain college students.