Provides gross income tax deduction for costs of purchasing and installing whole house backup electrical generator for resident taxpayer's principal residence.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes a gross income tax deduction for New Jersey residents who purchase and install a whole-house backup electrical generator at their primary residence. The deduction applies to the costs associated with the generator’s purchase and installation, provided the generator meets specific requirements, such as being permanently connected to the electrical system and only operating during power outages. This legislation aims to encourage homeowners to invest in backup power solutions and reduce reliance on the main electricity grid.
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