NJ S3037

Creates the Child and Adolescent Mental Health Loan Redemption Program within the Higher Education Student Assistance Authority, providing up to $1,000 annually for up to four years to licensed mental health professionals who work full-time serving children and adolescents

Eligible participants must be New Jersey residents, licensed mental health professionals in qualifying full-time positions, and have outstanding student loan balances that are not in default

Establishes a gross income tax credit of up to $1,000 per taxable year for licensed mental health professionals employed full-time in positions primarily dedicated to providing mental health counseling to children and adolescents

Qualifying mental health professionals include those licensed by various regulatory boards including the State Board of Medical Examiners, Psychological Examiners, Social Work Examiners, Marriage and Family Therapy Examiners, and others

Knowingly providing false information to receive loan redemption payments constitutes a fourth-degree crime punishable by up to 18 months imprisonment, a fine of up to $10,000, or both