Improves management and administration of New Jersey Better Education Savings Trust program; establishes grants and additional tax incentives for New Jersey Better Education Savings and Trust account contributions; creates New Jersey Better Education Savings and Trust Advisory Council.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill aims to improve the management and administration of the New Jersey Better Education Savings Trust (NJBEST) program. It establishes grants and additional tax incentives for NJBEST account contributions, increases the minimum account balance eligible for exclusion from financial needs assessments, and creates a New Jersey Better Education Savings and Trust Advisory Council to advise on program improvements. The bill also introduces new grant opportunities for initial account deposits and expands tax credits for employers who match employee contributions to NJBEST accounts.
Bill text
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Document of record
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Sponsors
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2 on record
Primary sponsors
Joseph Cryan
Vincent Polistina
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