NJ A4172

Creates a gross income tax credit for totally and permanently disabled veterans who rent their principal residence, equal to 18% of annual rent paid (the portion considered property taxes)

Eligible veterans must have been honorably discharged and declared by the VA to have 100% permanent service-connected disability from conditions including paraplegia, total blindness, amputation of both arms/legs/hands/feet, or other total disabilities from enemy action, accident, or disease contracted in service

Credit is refundable, meaning veterans receive the excess amount as a refund if the credit exceeds their tax liability

Extends the same credit to surviving spouses of eligible disabled veterans or service members who died in active wartime service, as long as they remain widowed and New Jersey residents

Takes effect for taxable years beginning on or after January 1 following enactment