NJ A2779

Allows employees to deduct up to $5,250 annually from New Jersey gross income for employer-paid educational assistance (tuition, fees, textbooks, equipment) that qualifies under federal IRC Section 127

Creates a separate deduction of up to $5,250 annually for employer-provided student loan payment assistance, covering principal or interest payments on higher education debt

Both deductions can be claimed simultaneously in the same tax year, in addition to all other exemptions and deductions the taxpayer qualifies for

Educational assistance must be provided through a written employer plan and cannot include sports, games, or hobbies courses

Takes effect immediately and applies to taxable years beginning after the date of enactment