NJ S531

Creates a gross income tax credit of up to $750 for full-time attendance at a New Jersey county college, covering tuition and maintenance costs paid by taxpayers for themselves or dependents under age 22

Provides a reduced credit of up to $375 for part-time attendance, requiring completion of at least six credits per semester

Taxpayers claiming the credit for a dependent cannot also claim the standard dependent deduction for that dependent in the same tax year

Applies to New Jersey's 19 county college institutions and takes effect for taxable years beginning January 1 following enactment