NJ A324

Requires the Higher Education Student Assistance Authority to select investment managers for NJBEST accounts that charge the lowest possible fees, and increases the minimum account balance excluded from financial aid calculations from $25,000 to $50,000

Raises the income eligibility threshold for NJBEST contribution tax deductions from $200,000 to $300,000 and increases the maximum deduction from $10,000 to $15,000 per year

Expands grant eligibility for taxpayers with gross income of $150,000 or less to receive up to $1,000 (10% match of initial deposit) plus $100 annually for enrollment in automated investment plans, up from the current $750 one-time match for those earning $75,000 or less

Creates a one-time grant of up to $500 for taxpayers earning $150,000 or less who transfer funds from out-of-state 529 accounts into NJBEST accounts

Establishes a 13-member NJBEST Advisory Council to advise on program improvements and provides tax credits to employers who make matching contributions to employees' NJBEST accounts