NJ S2048

Creates the Child and Adolescent Mental Health Loan Redemption Program within the Higher Education Student Assistance Authority to provide up to $1,000 annually in student loan payments to licensed mental health professionals serving children and adolescents full-time.

Limits program participation to four years maximum, with loan redemption payments applied toward outstanding undergraduate or graduate student loan balances.

Requires program participants to be New Jersey residents, maintain full-time employment primarily dedicated to child/adolescent mental health counseling, and have non-defaulted student loans.

Establishes a gross income tax credit of up to $1,000 per taxable year for licensed mental health professionals employed full-time in positions primarily serving children and adolescents.

Makes furnishing false information to obtain loan redemption payments a fourth-degree crime, punishable by up to 18 months imprisonment, a fine up to $10,000, or both.