New Jersey Assembly Bill A2529

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Allows gross income tax deduction for 50% of contributions of $100 or more to domestic violence shelters.

Impact

If enacted, A2529 would significantly impact state tax law by introducing a specific tax incentive related to contributions for domestic violence shelters. This deduction could lead to increased funding for these facilities, promoting their sustainability and capacity to serve those in need. Additionally, the bill requires shelters to meet standards set by the Department of Human Services and to provide verification to the Division of Taxation, ensuring that only qualified organizations benefit from this initiative. This provision aims to maintain the integrity and effectiveness of the shelters receiving support.

Summary

Assembly Bill A2529 proposes a gross income tax deduction for New Jersey taxpayers, allowing them to deduct 50% of their contributions of $100 or more to domestic violence shelters. The measure aims to encourage charitable donations to these shelters, which provide crucial support services for victims of domestic violence. This legislation is seen as a vital step toward bolstering the financial stability of domestic violence shelters across the state, which play an essential role in supporting survivors.

Contention

While there may not be significant public contention noted at this stage, as A2529 is introduced, potential points of debate could arise during committee discussions or floor debates. Stakeholders may raise concerns regarding the effectiveness of the tax deduction in truly enhancing funding for shelters versus potential administrative burdens it imposes on taxpayers and shelters. Furthermore, discussions may include how this measure fits within broader state funding strategies for domestic violence prevention and support services, as well as potential disparities in access to the benefits offered by this deduction.