Docket Room
S 580·NJ·senate

Allows gross income tax deduction for certain student loan interest.

In CommitteeFiled Jan 13, 2026
Sponsor: Jim Beach (D)
Latest Action

Referred to Senate Budget and Appropriations Committee

May 18, 2026

Summary

The bill lets New Jersey taxpayers subtract from their state gross income the amount of student‑loan interest that the federal tax code permits them to deduct. It applies to any qualified education loan and follows the same income limits and phase‑outs used for the federal deduction. This gives a state tax benefit that mirrors the federal one.

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