Allows gross income tax deduction for functional improvements and home repairs made to taxpayer's primary residence.

This bill allows New Jersey residents to deduct expenses paid for functional improvements and home repairs on their primary residence from their gross income. It defines ‘functional improvement expenses’ as work that extends the lifespan or improves the operating condition of a home, excluding purely aesthetic renovations or changes in use. The bill also clarifies that ‘repair and maintenance expenses’ cover upkeep to maintain a home’s habitability. Married couples filing separately can each claim half of the deduction for qualifying expenses.