"New Jersey Student Support Act"; establishes program to Department of Treasury to provide tax credits to taxpayers contributing to organization which awards scholarships to certain nonpublic school students.
Impact
The bill outlines specific eligibility criteria for both schools and students. An eligible school must comply with state anti-discrimination laws and the Anti-Bullying Bill of Rights Act, while eligible students must be residents of New Jersey with household incomes not exceeding specific federal guidelines multiplied by 2.6. Notably, the program is designed to fund scholarships to students not limited to specific schools, thereby promoting diversity in educational choices. The State will also appropriate $37.5 million annually to support this initiative, reflecting a commitment to educational funding in conjunction with maintaining existing public education mandates.
Summary
Senate Bill 3035, also known as the New Jersey Student Support Act, establishes a program within the Department of Treasury to provide tax credits to taxpayers who make contributions to organizations that award scholarships to eligible students attending nonpublic schools. The program aims to support families with financial barriers by allowing taxpayers to receive a credit equal to 75 percent of their contribution to designated student support organizations. This initiative is aimed at increasing access to educational opportunities for students in need, particularly those from low-income households.
Contention
The proposed legislation has raised discussions regarding the implications of diverting state funds to private education through tax credits. Critics argue that this could undermine public education funding and lead to a system where nonpublic schools receive preferential treatment over public schools. Proponents counter that this act is essential for providing families with choice and improving educational outcomes, particularly for those who may be underserved by the public school system. There are concerns about the long-term effects on public school finances and the equitable distribution of resources among educational institutions.
Same As
"New Jersey Student Support Act"; establishes program in Department of Treasury to provide tax credits to taxpayers contributing to organization which awards scholarships to certain nonpublic school students.
"New Jersey Student Support Act"; establishes program in Department of Treasury to provide tax credits to taxpayers contributing to organization which awards scholarships to certain nonpublic school students.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
Schools, failing, scholarships for students assigned to in order to attend another public or nonpublic school, income tax credits for contributions to scholarship granting organizations increased, Sec. 16-6D-9 am'd.
Schools, failing, scholarships for students assigned to in order to attend another public or nonpublic school, income tax credits for contributions to scholarship granting organizations increased, Sec. 16-6D-9 am'd.
Establishes New Jersey Property Tax Relief and Education Empowerment Program to provide both property tax relief to citizens and educational grants to certain students enrolled in nonpublic schools.
Establishes New Jersey Property Tax Relief and Education Empowerment Program to provide both property tax relief to citizens and educational grants to certain students enrolled in nonpublic schools.
Expanding the tax credit for low income students scholarship program act to allow certain high school students and students eligible to be enrolled in certain school districts to be eligible for scholarships, increasing the tax credit for contributions and the aggregate tax credit limit, providing for aggregate tax credit increases under certain conditions and providing for program administration by the state treasurer.
"New Jersey Student Support Act"; establishes program in Department of Treasury to provide tax credits to taxpayers contributing to organization which awards scholarships to certain nonpublic school students.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
"Opportunity Scholarship Act"; establishes pilot program in Department of Treasury providing tax credits to taxpayers contributing to scholarships for low-income children.
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.
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.
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.