New Jersey Assembly Bill A2411

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Provides gross income tax credit of up to $500 to taxpayers who utilize high impact tutoring.

Impact

If enacted, A2411 would amend existing tax regulations under the New Jersey Gross Income Tax Act, thereby providing financial relief to families utilizing high impact tutoring services. This initiative is positioned within a broader effort to improve educational outcomes by incentivizing parents to seek additional educational resources for their children, particularly for those who may otherwise not be able to afford such services. The refundable nature of the tax credit means that taxpayers who owe no tax would still receive the financial benefit, thus widening access to tutoring services.

Summary

Assembly Bill A2411, introduced in New Jersey, proposes to grant a gross income tax credit of up to $500 to taxpayers who utilize high impact tutoring services. The initiative is designed to encourage the utilization of tutoring that has been shown to enhance student learning significantly through verified research studies. This tax credit is claimed for the taxable year in which the tutoring services are used, promoting immediate benefits for those investing in educational support for their children.

Contention

Discussions surrounding A2411 might involve debate over the effectiveness and impact of high impact tutoring, with proponents arguing that such educational investments are essential for improving student performance. Conversely, there could be concerns regarding the potential for unequal access to these services, as well as the sustainability of funding for tax credits in state budgets. This could lead to further discussions on how best to support educational equity, especially in underprivileged communities.