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NJ S1462
Bill
Status
1/9/2024
Primary Sponsor
Joseph Lagana
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AI Summary
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Converts the NJBEST college savings grant from a one-time $750 matching grant to an annual savings incentive grant of up to $1,500 per account for contributors with adjusted gross income between $0 and $75,000.
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Annual grants provide a 3-to-1 match, offering three dollars for every dollar deposited, up to the $1,500 maximum per year.
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Eligibility for annual grants continues until the designated beneficiary reaches 14 years of age.
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Authorizes the Higher Education Student Assistance Authority to fund savings incentive grants from administrative fees collected through the NJBEST program.
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Takes effect on the first day of the year following enactment.
Legislative Description
Requires automatic machine recount for certain elections that result in tie vote and establishes process to resolve subsequent tie votes.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
1/9/2024