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NJ S1603
Bill
Status
1/13/2026
Primary Sponsor
Carmen Amato
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AI Summary
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Creates a 90-day State tax amnesty period ending no later than January 15, 2026, allowing taxpayers to pay overdue State taxes with half the interest waived and no late penalties or recovery fees
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Applies to State tax liabilities for returns due between September 1, 2017 and January 1, 2025, excluding taxpayers under criminal investigation for tax matters
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Imposes a 5% non-waivable penalty on eligible but unpaid tax liabilities after the amnesty period ends, in addition to all other authorized penalties and interest
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Establishes a Stabilization Aid Account in the Department of Education to receive amnesty revenues, which will fund supplemental aid to school districts experiencing reductions in State school aid
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Appropriates up to $15 million from collected amnesty revenues to the Division of Taxation to administer the program, including expedited procurement of advertising services
Legislative Description
Establishes 90-day State tax amnesty period ending no later than January 15, 2026; dedicates revenues collected during tax amnesty period for Stabilization Aid to school districts; appropriates up to $15 million.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
1/13/2026