NJ A1713

Converts the NJBEST college savings program grant from a one-time $750 matching grant to an annual savings incentive grant of up to $1,500 for account contributors with adjusted gross income between $0 and $75,000

Annual grants would be calculated at a 3-to-1 match rate (three dollars for every dollar deposited), with a maximum of $1,500 per account per year

Eligibility for annual grants continues until the year before the designated beneficiary turns 14 years old

Authorizes the Higher Education Student Assistance Authority to fund these savings incentive grants from administrative fees collected in connection with the NJBEST program

Grant availability is subject to annual determination of available funds by the authority's board