NJ S3180

Expands the NJBEST college savings program grant from a one-time $750 matching grant to an annual savings incentive grant of up to $1,500 for contributors with adjusted gross income between $0 and $75,000

Changes the matching formula from dollar-for-dollar to a 3-to-1 match, providing three dollars for every dollar deposited into the account each year

Limits eligibility for the annual grants to years before the designated beneficiary turns 14 years old

Authorizes the Higher Education Student Assistance Authority to fund the savings incentive grants using administrative fees collected from the NJBEST program

Takes effect on the first day of the year following enactment, with the authority permitted to take anticipatory administrative actions beforehand