NJ A2445

Provides a one-time $100,000 gross income tax deduction in the first year for qualified primary care physicians practicing in New Jersey, decreasing by $20,000 annually over the next four years for a total deduction of $300,000 over five years.

Eligible physicians must be state-licensed and practicing family medicine, general internal medicine, general pediatrics, or general obstetrics/gynecology.

Physicians who do not maintain their New Jersey practice for the full five years must repay the full gross income tax liability that would have been owed without the deductions, though the Division of Taxation director may grant hardship exemptions.

Aims to address projected primary care physician shortages caused by retiring physicians, limited residency programs, and increased patient demand from the Affordable Care Act.