NJ S2448

Creates a $500 gross income tax credit for volunteer firefighters in New Jersey

Requires taxpayers to have been active members of a volunteer fire company or part-paid fire department for the current tax year and the prior two tax years (three consecutive years total) to qualify

The credit cannot reduce a taxpayer's tax liability below zero (non-refundable credit)

Applies to taxable years beginning on January 1 following enactment

Authorizes the director to establish rules and procedures for implementing the credit and determining the order of priority when multiple tax credits apply