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NJ S1204
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Linda Greenstein
Click for details
AI Summary
- Employers may claim a tax credit equal to 10% of qualified wages paid to veterans, capped at $1,200 per veteran annually, for five years following enactment.
- Veterans must be New Jersey residents honorably discharged from active military service on or after January 1, 1965, and employed for at least 185 business days during the tax year.
- To qualify, employers must hire veterans as 25% of new employees, provide workplace veteran support services, conduct veteran recruitment efforts, and retain at least 50% of veterans from the prior year.
- Total tax credits under the program are capped at $10 million per fiscal year across both corporation business tax and gross income tax credits.
- Employers found displacing existing workers to hire veterans for credit purposes face denial of credits, recapture of prior credits, and a 50% penalty assessment.
Legislative Description
"New Jersey Battlefield to Boardroom Act"; provides corporation business tax credits and gross income tax credits for qualified wages of certain veterans.
Budget and Appropriations
Last Action
Referred to Senate Budget and Appropriations Committee
2/19/2026
Committee Referrals
Budget and Appropriations2/19/2026
Military and Veterans' Affairs1/13/2026
Full Bill Text
No bill text available